USD/JPY gains ground for first session in three

USD/JPY tilted higher in Asian trade off January 7 lows while on track for the second weekly loss in a row, following a batch of data from Japan.

As of 06:56 GMT, USD/JPY rose 0.08% to 103.59, with an intraday high at 103.61, and the lowest at 103.49.

Japan's consumer prices fell 1.2%, compared to a 0.9% drop in November.

Core prices, excluding food and energy, fell 0.4%, compared to a 0.3% decline in November, as the manufacturing PMI fell to 49.7 from 50.0.

From the US, manufacturing PMI is expected down to 56.6 from 57.1, while services PMI is expected down to 53.3 from 54.8.

US existing home sales are expected down 2% to 6.55 million units, compared to a 2.5% drop in November to 6.69 million.