U.S. dollar drops 3 pct vs yen, briefly falls below 96 yen

Thu Jun 6, 2013 12:44pm EDT
 
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NEW YORK, June 6 (Reuters) - The dollar plunged three percent against the yen on Thursday, briefly dipping below 96, as investors sold the greenback on worries about Friday's U.S. non-farm payrolls report.

Investors have built massive long positions on the dollar on the expectation that some upbeat U.S. economic data would lead to a reduction of the Federal Reserve's stimulus program. But recent U.S. data has been inconsistent at best.

The dollar fell to 95.96 yen yen, down 3 percent on the day. That was lowest since mid-April. It was last at 96.35 yen, down 2.7 percent.

The greenback also slid against the euro, Swiss franc, sterling, Australian, Canadian, and New Zealand dollars.