The currency used by 12 European countries hit 156.76 yen -- its highest relative value since its 2002 debut -- before falling back to 156.44 yen.

The rise followed comments by a European Central Bank policymaker that eurozone interest rates were historically low.

The comments by Central Bank Council member Yves Mersch raised expectations the bank would raise interest rates next quarter, increasing the value of euro-denominated assets.