The U.S. dollar hit its highest level against the yen in 8-1/2 months on Wednesday and also surged against the euro and Swiss franc after a surge in oil prices pushed U.S. Treasury yields higher, while strong private payrolls data bolstered expectations for a hawkish Federal Reserve next year.
The dollar rose about 1.7 percent against the to 114.43 yen, its highest level since early March. The euro fell about 0.8 percent against the dollar to a session low of $1.0554 after U.S. crude prices rallied more than 8.5 percent as some of the world's largest oil producers agreed to curb oil output for the first time since 2008.
