Dollar hits 7-week low vs yen as "Triple Threat Thursday" looms

London (June7) The dollar hit a seven-week low against the yen on Wednesday, with traders cautious a day before Britain votes, the European Central Bank makes a policy decision and former FBI director James Comey gives testimony to the U.S. Senate.

The dollar has lost more than 1 percent versus the safe-haven Japanese currency so far this week, pressured by a sharp drop in U.S. Treasury yields to seven-month lows amid a risk-averse mood, and as weak U.S. data has curtailed expectations for interest rate hikes from the Federal Reserve.

On Wednesday the greenback fell 0.2 percent to 109.22 yen , its weakest since April 21.

"Tomorrow's what is being dubbed as 'Triple Threat Thursday',...an event-filled day that could send global markets on a bumpy ride," said ING currency strategist Viraj Patel, in London.

Any damaging revelations in Comey's testimony is likely to further hurt Trump and take the wind out of his plans to roll back regulations and overhauling the tax system.

Source: Reuters