The Japanese yen was on track to end the year with its biggest annual loss against the U.S. dollar in 34 years, easily making it the worst performing major currency of 2013.
The yen stood at about 104.92 to the dollar in Asia trade, close to a five-year low hit a day earlier at about 105.41. It is down almost 22 percent this year, putting it on track for its biggest one-year percentage fall against the dollar since 1979 when it tumbled almost 24 percent, according to data from Thomson Reuters.
(Read more: Resurgent carry trade to keep yen weak)
Japan's currency has been on a sharp downward slope ever since the country's Prime Minister started talking about the need for an aggressive monetary policy to help kick start a moribund economy a year ago.