USD/JPY resumes decline from four-week high

USD/JPY tilted lower in Asian trade away from November 26 highs for the second session in four, amid a lack of data from Japan and ahead of US data later today.

As of 06:23 GMT, USD/JPY fell 0.21% to 113.46, with an intraday low at 113.4, and a high at 113.72.

Bank of Japan's policymakers voted to maintain rates at a negative 0.10% as expected, while deciding to extend its financial support program for the coronavirus for another 6 moths until late September 2022.

BoJ Governor Haruhiko Kuroda noted the constant economic uncertainty, now due to the Omicron variant, while adding that a weaker yen is favorable to Japanese exports.

From the US, the CB leading index is expected up 0.9% in November following the December 14-15 meeting, at which policymakers decided to maintain rates at below 0.25% while doubling the rate of reducing the bonds purchases program to $30 billion a month.

The Fed now expects 3 rate hikes in 2022, and another three in 2033, and two hikes in 2024.

Fed Chair Jerome Powell said that controlling inflation is the key now to support a sustained economic expansion, however it's a highly complex issue especially with the advent of Omicron.