The Japanese yen firmed against its major rivals in the Asian session on Thursday, as investors digested mixed views from Fed officials on inflation and focused on more U.S. data for monetary policy outlook.

Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman said that despite recent price increases likely to be temporary, it may take longer than anticipated to fade.

Bostic projected a rate hike in late 2022 citing faster growth and higher inflation.

Bowman did not give any timing for liftoff and suggested that "it could take some time."

Dallas Fed President Robert Kaplan said that the economy will likely meet the Fed's requirements for stimulus withdrawal sooner than thought.

Investors are now pricing in a rate hike in early 2023, instead of late 2022 seen following the Fed decision.

Data on U.S. jobless claims is due later in the day, while producer price inflation and consumer spending will be released on Friday.

The yen reversed from its previous lows of 132.58 against the euro and 155.14 against the pound, rising to 132.12 and 154.60, respectively. On the upside, 127.5 and 150 are possibly seen as its next resistance levels against the euro and the pound, respectively.

The yen rose to 120.53 against the franc and 110.76 against the greenback, off its early session's low of 120.99 and more than a 1-year low of 111.12, respectively. The yen is seen finding resistance around 117.00 against the franc and 109.00 against the greenback.

The Japanese currency recovered to 90.00 against the loonie, 83.87 against the aussie and 78.11 against the kiwi, after falling to 90.32 and 1-week lows of 84.17 and 78.35, respectively. If the yen gains further, it may find resistance around 88.00 against the loonie, 82.00 against the aussie and 76.00 against the kiwi.

Looking ahead, German Ifo business sentiment index for June will be released in the European session.

The Bank of England's monetary policy announcement is due at 7:00 am ET. The Monetary Policy Committee is widely expected to hold the key rate at a record low of 0.10 percent and the quantitative easing programme at GBP 895 billion.

U.S. final GDP data for the first quarter, weekly jobless claims for the week ended June 19, durable goods orders and wholesale inventories for May, as well as Canada manufacturing and wholesale sales for the same month are due in the New York session.

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