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.

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