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Dollar Falls to Three-Week Low on U.S. Economy; Volatility Rises

The dollar dropped to a three-week low versus the euro as the U.S. economy expanded less than previously estimated and jobless-benefit claims rose, reducing speculation the Federal Reserve will cut back on stimulus.

The yen strengthened versus the greenback after Reuters reported Japan’s public pension fund may allow its investment in domestic stocks to grow, citing unnamed people familiar with the matter. Sweden’s krona rallied versus all of its 16 most-traded counterparts tracked by Bloomberg. A gauge of currency-price swings climbed to the highest level in almost a year.