USD/JPY resumes rebound from five-week trough

USD/JPY tilted higher in Asian trade off September 21 lows following earlier data from Japan and ahead of US data today. 

As of 07:05 GMT, USD/JPY rose 0.11% to 104.88, with an intraday high at 104.93. 

Earlier Japanese data showed services prices rose 3.1% in September, up from 1.1% in August. 

From the US, new home sales are expected up 2.8% to 1.025 million units in September. 

Chances of US Covid relief passing before the November elections evaporated as talks stall. 

Otherwise, the US reported a new record Covid 19 daily infection rate, with Vice President Mike Pence reporting a positive Covid result. 

The World Health Organization reported 42.5 million global Covid 19 cases so far with the death toll standing at 1.147 million.