The U.S. dollar rose against the yen early Wednesday in Tokyo, hitting a two-and-a-half-month high in the lower 137 yen range after U.S. Federal Reserve Chair Jerome Powell suggested faster interest rate hikes.
At 9 a.m., the dollar fetched 137.38-41 yen compared with 137.10-20 yen in New York and 135.74-76 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $1.0547-0551 and 144.89-98 yen against $1.0543-0553 and 144.60-70 yen in New York, and $1.0685-0687 and 145.04-08 yen in Tokyo late Tuesday afternoon.
Tokyo stocks opened higher on buying of exporter and manufacturer issues amid the weaker yen.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 34.76 points, or 0.12 percent, from Tuesday to 28,343.92. The broader Topix index was up 2.93 points, or 0.14 percent, at 2,047.91.
Gainers were led by electric power and gas, retail, and rubber product shares.