USD/JPY resumes rebound from two-week low

USD/JPY tilted higher in Asian trade off December 6 lows amid a lack of data from Japan and ahead of US data today.

As of 06:10 GMT, USD/JPY rose 0.16% to 113.75, with an intraday high at 113.77.

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, current account deficit is expected up to $206 billion from $190 billion in the second quarter.

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.