USD/JPY loses ground ahead of Powell's testimony

USD/JPY tilted lower in Asian trade off September 15 highs following earlier data from Japan and ahead of Fed Chair Jerome Powell's second part of his Congressional testimony.

As of 07:17 GMT, USD/JPY fell 0.07% to 105.32, with an intraday low at 105.29. 

Bank of Japan released the minutes of its July 14-15 meeting, at which it maintained rates at minus 10% and asserted its commitment to maintain government bond yields at zero and take further step to prop up the economy if needed. 

From the US, unemployment claims for the week ending September 18 are expected down 15 thousand to 845 thousand, while continuing claims are expected down 289K to 12.3 million. 

Fed Chair Jerome Powell will present the second part of his Congressional testimony alongside US Treasury Secretary Steven Mnuchin. 

US new home sales are expected down 4% to 890 thousand, after rising 16.6% to 901 thousand in July.