The Japanese yen rose broadly on Monday, as financial market turbulence sent traders scrambling for the traditional low-risk currency after disappointing Chinese factory data sparked a selloff on global stock markets.
The yen rose to an 11-week high against the dollar and climbed to a level not seen since April versus the euro.
"It's your classic risk-off move and you have your safe-haven play in the yen," said Alberto Boquin, FX macro strategist at J.P. Morgan Private Bank in New York.
A 7 percent slide in Shanghai shares suggested the global economy may struggle this year to handle many more rises in U.S. interest rates, which would be likely to drive any further dollar rally.
The U.S. Federal Reserve raised interest rates in December, the first rate hike in nearly a decade.