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.