The dollar hit a fresh seven-year high against the yen on Wednesday, and held near a 14-month peak versus sterling, as investors added favourable bets ahead of Federal Reserve minutes that could highlight policy divergence with its peers.
The yen was on the defensive, falling to a six-year trough against the euro, after Japanese Prime Minister Shinzo Abe’s decision to postpone a sales tax rise was seen as supportive for stock markets and negative for the yen.
The dollar rose to as high as 117.44 yen, its highest level since October 2007. The dollar last traded at 117.35 yen, up 0.4 percent on the day.
The euro was up 0.4 percent at 147.25 yen, its highest since late 2008.
The yen showed limited reaction after the BOJ kept policy unchanged on Wednesday as expected.
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