Yen Drops Against Dollar After US Jobless Claims Fall More Than Expected

CURRENCY - NEW YORK. The yen fell against the dollar on Thursday after new U.S. labor market data showed that unemployment benefits fell more than expected last week, easing fears of an imminent recession.

The yen's slide follows a sharp drop the day before in a volatile week in which investors have had to digest the unwinding of popular carry trades and how Japanese monetary policy might evolve.