The U.S. dollar rose to the upper 112 yen zone Wednesday in Tokyo on expectation of a U.S. rate hike by the end of this year.

At 5 p.m. local time, the dollar was quoted at 112.68-69 yen compared with 112.19-29 yen in New York and 111.75-77 yen in Tokyo at 5 p.m. Tuesday. It moved between 112.26 yen and 112.82 yen during the day.

The euro fetched 1.1755-1757 dollars and 132.46-50 yen against 1.1790-1800 dollars and 132.31-41 yen in New York and 1.1811-1813 dollars and 131.99-132.03 yen in Tokyo late Tuesday afternoon.

On Tuesday, U.S. Federal Reserve Chair Janet Yellen said that it would be "imprudent to keep monetary policy on hold until inflation is back to 2 percent," which boosted market expectations on a rate increase by the end of this year.