USD/JPU gains ground for third straight session ahead of Powell's testimony

USD/JPY tilted higher in Asian trade off June 14 lows following earlier data from Japan and amid a lack thereof from the US, and ahead of Fed Chair Jerome Powell's Congressional testimony today.

As of 06:52 GMT, USD/JPY rose 0.16% to 110.45, with an intraday high at 110.48. 

From Japan, core consumer prices were unchanged as expected in June, compared to a 0.1% dip in May. 

Federal Reserve Bank of San Francisco President Mary Daly is due to speak at an online event hosted by the Peterson Institute for International Economics.

The Federal Reserve decided last week to keep the interest rate near zero and forecast 2 interest rate hikes in 2023, and raised its forecast for US GDP growth this year to 7% from 6.5% in March.

Federal Reserve Chair Jerome Powell will testify on the Fed’s emergency lending programs and current policies before the House Select Subcommittee on the Coronavirus Crisis, via satellite.