Greenback hits 7-year high against yen

London

THE US dollar hit a seven-year high against the yen on Wednesday ahead of Federal Reserve minutes that could shed more light on the divergence in monetary policy between the US central bank and its major global peers.

The yen was on the defensive, falling to a six-year trough against the euro, after Japanese Prime Minister Shinzo Abe postponed a sales tax hike in a move seen as supportive for stock markets but negative for the Japanese currency.