Greenback climbs to 7-year high against yen

London

THE US dollar climbed to a seven-year high against the yen on Tuesday after a Japanese government official told Reuters that Prime Minister Shinzo Abe was likely to delay a planned sales tax increase.

The comments came as momentum appeared to be building for Mr Abe to delay the painful measure because of the fragility of Japan's economy and call a snap election, with major parties scrambling to prepare for a possible campaign.