USD/JPY climbs ahead of Fed's meeting

USD/JPY tilted higher in Asian trade following earlier inflation data from Japan and ahead of US data and the Federal Reserve's 28-29 July policy meeting. 

As of 05:57 GMT, USD/JPY rose 0.19% to 105.57, with an intraday high at 105.69. 

Earlier Japanese data showed services prices up 0.8% in June as expected, compared to a 0.5% increase in May. 

From the US, house prices is expected up 4.1% in June, while the Richmond manufacturing index is expected up to 5 in July from zero. 

The CB consumer confidence index is expected down to 94.0 from 98.1 in July, while the Federal Open Market Committee prepares to start its two-day policy meeting today, expected to maintain rates unchanged at near zero. 

Yesterday, Senate Majority Leader Mitch McConnell revealed the Republican rescue bill for the economy, amounting to $1 trillion for the unemployed and other affected sectors of society.