Dollar weakens vs. yen as global stock selloff intensifies

The dollar weakened against the yen Monday, at one point falling to its lowest level since mid-October, as worries about slowing growth in China instigated a global flight to safety.

The dollar USDJPY, +0.06%  traded at ¥119.30 late Monday in New York, after falling to ¥118.70 earlier in the session, its lowest level since Oct. 15, according to FactSet data. The dollar traded at ¥120.27 late Thursday in New York.

Higher interest rates in the U.S. may not be enough to support the dollar in January if economic growth stagnates elsewhere.

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