TOKYO: The dollar rose against the yen in Asia on Wednesday as investors await a speech by Japanese Prime Minister Shinzo Abe on his growth strategy for the economy.
The greenback bought 100.18 yen in Tokyo morning trade from 99.98 yen in New York late Tuesday while the euro also edged up to 130.96 yen from 130.79 yen.
The euro bought $1.3072 against $1.3079 in New York.
Abe is due to deliver a speech later Wednesday that observers hope will provide details on his policy to stoke growth.
"I'm guessing he might give lip service," a senior dealer at a major European bank in Tokyo told Dow Jones Newswires.
Abe's policy of active government spending coupled with the Bank of Japan's aggressive monetary easing has boosted Tokyo stock prices to multi-year highs, but the market has been prone to recent wild swings.
The benchmark Nikkei 225 index on the Tokyo Stock Exchange was down 0.23 percent in mid-morning trade Wednesday.
In the present febrile atmosphere, any fresh comment from Abe on encouraging financial investment or easy-money policy could send stock prices higher, fuel risk sentiment and drag the yen down.
Media reports on Wednesday said Abe would say that his government aims to boost the nation's per-capita income by 1.5 million yen, or by a third, over 10 years.
National Australia Bank (NAB) said in a note that "the key theme in markets remains the timing of the Fed's expected easing back on purchases of bonds."
Investors have been jittery over the timing.
The market appeared to believe the chances of a near-term tapering of the Federal Reserve's programme had receded after weak US manufacturing data Monday.
But comments by the Kansas Fed president on Tuesday urging the central bank to cut it back because of the improving economy, had countered that move, NAB said.
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