Dollar hits fresh 7-year highs against yen
ecPulse
2014-11-19 15:07PM UTC
The dollar hit fresh seven-year highs against the yen on Wednesday after Japan`s prime minister decided to delay a planned sales tax hike.
The yen came under pressure after Japan`s Prime Minister Shinzo Abe announced on Tuesday plans to delay a sales tax hike for 18 months, in addition to calling on for early elections.
The US dollar is expected to gain more support throughout the day while awaiting the results of the Federal Reserve meeting minutes later today.
USD/JPY recorded a fresh 7- year highs at 117.44, the highest since October 2007. The pair is trading 0.55% to the upside around 117.51.
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