USD/JPY gains ground for first session in three ahead of Fed's decision

USD/JPY tilted higher in Asian trade off July 20 lows for the second session following data from Japan and ahead of US data and policy decisions by the Federal Open Market Committee. 

As of 07:07 GMT, USD/JPY rose 0.04% to 109.81, with an intraday high at 109.91, and a low at 109.73. 

Bank of Japan released the minutes of the July 15-16 meeting, noting that policymakers are putting high priority on having a climate plan, and continue to monitor economic risks from the pandemic. 

From the US, the goods trade balance is expected to show a deficit of $88 billion in June, compared to $88.1 billion in May, while wholesale inventories are expected up 1.2%. 

The Federal Open Market Committee will decide today on the monetary policy, expected to maintain rates at near zero, the and the assets purchases program at $120 billion.