USD/JPY rebounds from ten-month trough

USD/JPY tilted higher in Asian trade off March 10 lows following earlier data from Japan and ahead of US data later today in addition to Fed speeches. 

As of 07:04 GMT, USD/JPY rose 0.19% to 103.24, with an intraday high at 103.25. 

From Japan, average income fell 2.2% in November, sharpening a 0.7% drop in October, while the Japanese government announced to plan to impose emergency state for the second time to control the Covid 19 pandemic. 

The World Health Organization reported 85.09 million global Covid 19 cases so far, with the death toll standing at 1.861 million. 

From the US, unemployment claims for the week ending January 2 are expected up 11 thousand to 798 thousand, while continuing claims are expected down 19K to 5.2 million. 

US goods trade deficit is expected up to $66.7 billion from $63.1 billion, while services PMI is expected down to 54.5 from 55.9. 

Federal Reserve Bank of Chicago President Charles Evans is due to speak at a webinar hosted by the Wisconsin Bankers Association.

Otherwise, the Democrats' Georgia Senate win and control of both houses of Congress bolstered risk appetite in the market, with President Elect Joe Biden intending a massive stimulus package to bolster the economy. 

The prospects overcame the recent storming of Capitol Hill by President Donald Trump supporters, which shocked the US with the lapse in security.