The greenback fell more than 0.5 percent to 111.015 yen , its lowest since Feb. 28. The yen, a perceived safe haven, often attracts demand in times of political tensions and market turmoil.

Asian stocks retreated across the board on Friday after shockingly weak February export data from China heightened fears in a market already burdened by worries of a global economic slowdown following the European Central Bank's dovish signals.