Dollar Drops to 3-Month Low vs. Yen
The dollar dropped to a 3-month low Thursday, as investors spooked by growing problems in credit markets fled risky assets financed by borrowing in the low-yielding Japanese currency.
The dollar fell against the yen, according to electronic platform EBS, down more than 1% from Wednesday.
The euro was also down against the yen.
The euro traded relatively flat against the dollar.