US$ hits 2-week low against safe-haven yen

London

THE US dollar hit a two-week low against the safe-haven yen on Thursday, weighed down by uncertainty over whether the US Federal Reserve will raise interest rates in June or July.

While the greenback was down against most major currencies, it was flat against the euro ahead of a European Central Bank news conference at 1230 GMT. Investors expect the ECB to raise growth and inflation forecasts, which some strategists said could lift the euro from its current US$1.11925.