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Yen Plunges Most in Three Years on Japan Stimulus; Dollar Drops

The yen slid the most against the dollar in more than three years after the Bank of Japan outstripped forecasts and announced unprecedented measures to fight deflation, spurring concern the currency will be debased.

The dollar dropped against the euro by the most in almost three months as U.S. jobs gains in March trailed forecasts, adding to speculation American economic growth is faltering and the Federal Reserve won’t slacken stimulus soon. Fed Chairman Ben S. Bernanke is scheduled to speak next week in Atlanta. The yen fell the most against the euro since 2010 as Japan’s central bank said it would double its bond buying.