USD/JPY rises above 104 yen ahead of Biden's stimulus

USD/JPY tilted higher in Asian trade away from March 10 lows following earlier data from Japan and ahead of some US data and a speech by Fed Chair Jerome Powell. 

As of 07:05 GMT, USD/JPY rose 0.12% to 104.01, with an intraday high at 104.20. 

From Japan, producer prices rose 0.5% in December, compared to no change in November, while falling 2.0% y/y. 

Japan's machine orders rose 1.5%, slowing down from 17.1% in October, while the Japanese government extended the emergency state to include more areas to control the spread of the coronavirus. 

From the US, unemployment claims for the ween ending January 9 are expected down 2K to 785 thousand, while import prices are expected up 0.7% in December. 

The House of Representatives officially impeached Donald Trump after his supporters stormed Capitol Hill a few days ago to disrupt the process of voting Biden in as the new president. 

Donald Trump has now become the only US president in history to have been impeached twice, a few days ahead of Biden's official inauguration on January 20.