USD/JPY inches lower at the open

USD/JPY tilted lower in Asian trade off June 2020 highs amid a lack of data from Japan and ahead of US data later today and speeches by several Fed officials. 

As of 06:58 GMT, USD/JPY fell 0.02% to 108.77, with an intraday low at 108.51, and a high at 108.96. 

From the US, Federal Reserve Chair Jerome Powell is due to participate in a virtual panel discussion about central bank innovation at an online event hosted by the Bank for International Settlements later today.

Federal Reserve Bank of Richmond President Thomas Barkin will speak at an online event hosted by the Maryland Bankers Association today as well.

US existing home sales are expected down 2.1% to 6.55 million units in February, compared to a 0.6% rise to 6.69 million in January.