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Dollar Tumbles to 3-Week Low Versus Yen as Jobs Trail Forecast

The dollar dropped to a three-week low versus the yen as U.S. payrolls added less than one-third as many jobs as forecast last month, keeping unemployment near a 26-year high and spurring speculation the recovery is faltering.

The greenback fell against all of its most-traded counterparts except the Mexican peso and Canadian dollar as the jobless rate unexpectedly rose to 9.8 percent, underscoring the Federal Reserve’s decision last month to buy government bonds to spur employment. The Swiss franc was the top performer, after Norway’s krone, as U.S. stocks fluctuated and investors sought an alternative to the dollar.