The dollar fell to its lowest level against the yen since May 1. The currency sank 0.5 percent against the Swiss franc, falling to its lowest since Nov. 9, as talk that U.S. President Donald Trump could face the threat of impeachment boosted safe-haven assets. The greenback fell by as much as 1.35 percent against the yen, blowing through the 112 yen level to 111.57 yen.
Today's price action showed traders were losing faith in Trump's ability to push through his campaign trail promises of tax reform and fiscal stimulus. However, there was limited expectation that he would realistically face impeachment. Many financial analysts said the market was losing some faith in the likelihood of the FED raising U.S. overnight interest rates at its meeting next month. Higher rates make a country's currency more attractive to investors.