The yen fell about 2.5 percent to 147.94 against the dollar immediately after Uchida’s comments. The dollar was last trading 1.7 percent higher at 146.79 yen.
Interventions by Tokyo in early July and the Bank of Japan’s shift toward monetary tightening last week have prompted investors to pull out of carry trades, in which traders borrow yen at low interest rates to invest in dollar-denominated assets for higher returns.
The dollar index, which measures the greenback’s performance against a basket of six major currencies, rose 0.15 percent to 103.13, moving further away from a seven-month low of 102.15 touched on Monday.
The euro fell 0.1 percent to $1.0923 on Wednesday, down from an eight-month low of $1.101 hit on Monday as the dollar weakened. Sterling rose 0.1 percent to $1.2704.
The CME Group’s FedWatch tool showed that markets now expect a 62 percent chance of the US Federal Reserve cutting interest rates by 50 basis points in September.
The Australian dollar rose 0.64 percent to $0.6561, a day after the central bank ruled out the possibility of cutting interest rates this year, saying core inflation was expected to ease slowly.
The New Zealand dollar rose 1.11 percent to $0.6018 after strong employment data.
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