USD/JPY clings to gains near 149.00 ahead of US Initial Jobless Claims data

• USD/JPY trades firmly around 149.00 ahead of the US data-jammed New York session.
• Initial Jobless Claims are expected to have risen to 235K from the prior reading of 231K.
• BoJ officials argued in favor of raising interest rates further in the near term.

The USD/JPY pair holds onto gains near the 20-day high around 149.00 during the early North American session on Thursday. The pair demonstrates strength as the US Dollar trades firmly ahead of the United States (US) Initial Jobless Claims data for the week ending September 20, which will be published at 12:30 GMT.

During the press time, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades firmly near 97.85.

The impact of the US Initial Jobless Claims data would be significant for the Federal Reserve's (Fed) monetary policy outlook, as Federal Open Market Committee (FOMC) members have expressed concerns over slowing job demand.

The US Department of Labour is expected to show that the number of individuals seeking jobless benefits for the first time rose to 235K from the prior reading of 231K.

In Thursday's session, investors will also focus on the Durable Goods Orders for August, and revised Q2 Gross Domestic Product (GDP) and Personal Consumption Expenditure Price Index (PCE) data.

Though the US Dollar remains underpinned against the Japanese Yen (JPY), the latter is outperforming its other peers as minutes of the Bank of Japan's (BoJ) July policy meeting have shown that most officials supported the need to tighten the monetary policy further as inflation remains higher and the US-Japan trade deal has diminished economic uncertainty.