By Deborah Levine
NEW YORK (MarketWatch) -- The U.S. dollar dropped to a record low against the Japanese yen on Friday, a fall that some analysts attributed to the market hitting key levels that triggered selling of the greenback, and a more general unwind of positions ahead of some key meetings this weekend in Europe. The dollar fell as low as 75.76 Japanese yen according to FactSet Research, down more than 1% from 76.85 in late U.S. trading Thursday. It lately traded at 76.12 yen. "A lot of people have been trying to sell risk looking for Europe to disappoint and it's just an ugly short squeeze devoid of any clear fundamental catalyst," Richard Franulovich, chief currency strategist at Westpac.
