But the greenback's upside was limited as many exporters were still selling the US unit.
The dollar stood at 77.79 yen in mid-morning trade in Tokyo, edging up from 77.71 yen in New York Tuesday.
The euro was at $1.3024 and 101.31 yen, from $1.3030 and 101.25 yen in New York.
Importers and foreign investors sold the yen after Japan said, as expected, it had logged a calendar-year deficit in goods of 2.49 trillion yen ($32 billion) in 2011, its first since 1980.
