USD/JPY on track for third weekly profit in row

USD/JPY tilted higher in Asian trade to November 26 highs amid concerns regarding the Omicron variant, while still on track for the third weekly profit in a row.

The developments come following a spate of data from Japan and amid a lack thereof from the US, as markets price in latest Omicron developments. 

As of 06:22 GMT, USD/JPY rose 0.03% to 114.41, with an intraday high at 114.51, and a low at 114.30.

From Japan, consumer prices rose 0.6% as expected from 0.1% in October, while core prices, excluding fresh food, rose 0.5%.

Consumer prices excluding both food and fuel fell 0.6% as expected, while services prices rose 1.1%. 

Japan's housing starts rose 3.7% compared to 10.4% in November, as concerns over Omicron fade gradually.

The US FDA authorized the use of the first pharmaceutical pill to be taken in home for Covid 19 by Merck, the second such pill to be approved in the matter of weeks. 

The World Health Organization reported total global Covid 19 cases of 276.44 million, with 5,374,744 reported deal so far.