The dollar rose above 133 yen to hit a 39-month high against the yen at one point in Tokyo on Wednesday morning after a Japanese government official made remarks in favor of a weaker yen.
At 5 p.m., the dollar was quoted at 132 yen.50-53, down from 132 yen.80-90 at 5 p.m. Tuesday in New York and 132 yen.62-65 late Tuesday in Tokyo.
Over the course of the day, the dollar moved between 132.47 yen and 133.37 yen, trading most frequently at 132.98 yen.