The U.S. dollar briefly rose near the 115 yen line Wednesday morning, a level not seen in almost five years, on strong U.S. retail sales and factory output data for October, while Tokyo stocks fell as investors locked in recent gains.
The dollar advanced to around 114.97 yen, the highest since March 2017, before retreating slightly to the upper 114 yen range.
The 225-issue Nikkei Stock Average shed 133.38 points, or 0.45 percent, from Tuesday to 29,674.74. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 10.44 points, or 0.51 percent, at 2,040.39.
Decliners were led by air transportation, service and pharmaceutical issues.