The yen fell on Wednesday to its weakest levels against the dollar since June 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.

The dollar was last up 0.2 percent at 155.14 yen, its strongest since June 1990.

The decline in the yen comes after a string of strong U.S. inflation data pushed the dollar to five-month highs and reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.

The yen's slide against the dollar has revived anticipation of currency intervention. Japanese Finance Minister Shunichi Suzuki and other policymakers have said they are watching currency moves closely and will respond as needed.