It is descended from Old English wé, which was pronounced something like way in modern English. It is related to German wir, Dutch wij, Frisian wy, and Danish vi.
See also:
... Aplasia cutis congenita recessive[?] Aplasia cutis congenita[?] Aplasia cutis myopia[?] Aplasia/hypoplasia of pelvis, femur, fibula, and ulna with abnormal digits ...