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USD/JPY resumes decline from four-month high
USD/JPY tilted lower in Asian trade off October 2020 highs ahead of US data later today and amid a lack thereof from Japan.
As of 07:07 GMT, USD/JPY fell 0.01% to 104.58, with an intraday low at 104.57.
From the US, unemployment claims for the week ending February 6 are expected down 24K to 755 thousand, while continuing claims are expected down 102 thousand to 4.49 million.
Federal Reserve Chairman Jerome Powell said in earlier remarks that risks to the labor market still exist and remains a long way from a full recovery.
Powell expects monetary policy to be patiently adaptive to support the labor market, while expecting interest rates to remain low for some time.
Investors are anticipating the results of the ongoing discussions between the White House and the US Congress over the $1.9 trillion Covid relief plan proposed by President Joe Biden.
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