Although his comments helped the market shift back to widespread interest rate differentials and buy back the dollar, the US unit is not likely to maintain its upsurge much longer.
Unless the market can get a firm perception that the US Fed is ending its interest rate hike cycle, the ongoing weakness of the yen may not come to an end.
While the US Federal Reserve Board is exploring ways to exit from the interest rate-hiking cycle, investors are gaining strong confidence in the strength of Japan's economic fundamentals.
On the other hand, it is now believed that the Bank of Japan will hold interest rates, in effect, at zero for a prolonged period because of strong political pressure.
Recent rises in yields of Japanese government bonds, combined with this emerging uncertainty over prospects for US interest rates, are expected to weigh on the US currency against the yen in the near term.
The market is more inclined to the perception that US interest rates will rise further.