Wipe out impact of yen in full meltdown (7)

I believe the answer is:

nullify

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'wipe out' is the definition.
(thesaurus)

'yen in full meltdown' is the wordplay.
'yen' becomes 'y' (resembles the symbol for the currency of Japan).
'meltdown' indicates anagramming the letters (I've seen this in other clues).
'y'+'in'+'full'='yinfull'
'yinfull' anagrammed gives 'NULLIFY'.

'impact of' acts as a link.
This may not be right. Some or all of it may belong to another bit of the clue.

Can you help me to learn more?

(Other definitions for nullify that I've seen before include "Make invalid" , "Invalidate" , "Abrogate" , "Render ineffective" , "Declare invalid" .)

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