Greenback hits 6-week minimum against yen ahead of UK vote

Greenback hits 6-week minimum against yen ahead of UK vote

On Tuesday, the evergreen buck hit a six-week minimum versus the safe-haven yen because caution mounted ahead of Britain's upcoming election, another ECB meeting as well as ex-FBI Director James Comey's testimony to a Senate committee, and all of these events are set exactly for Thursday.

The greenback slumped 0.6%, being worth 109.770 yen, which is its lowest outcome since April 25. Buoyed by an overnight bounce in American yields from the very beginning, it had rapidly ascended to 110.510 early in the trading session.

The major American currency has found itself on the defensive since Friday's weaker-than-expected American non-farm payrolls report helped traders to pare back expectations of upcoming interest rate lifts by the US major bank.

The British pound leapt to $1.2921, following its ascend overnight to a 10-day peak of $1.2940.

As for the common currency, it pared overnight losses and tacked on 0.2%, hitting $1.1274, rebounding toward a seven-month peak of $1.1285 hit on Friday.

 

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