Auction Disappoints Dollar

The dollar ended mixed against key currencies Tuesday after a U.S. government auction of Treasury bills failed to meet expectations that Japanese investors would scoop up the dollar-denominated assets.

The dollar closed higher against the Japanese yen. But the dollar weakened against the German mark after the quarterly auction of $18 billion worth of three-year government notes failed to attract the level of investor demand brokers had been hoping for.

The average yield on the note was 5.99 percent, in line with expectations, but sluggish demand was a disappointment, traders said.

Exchange Currency in Dollars Dollar in foreign currency Canada .7376 1.3558 France .2059 4.8560 Germany .7111 1.4062 Great Britain 1.6011 .6246 Italy .000630 1587.60 Japan .010917 91.60 Mexico .162999 6.1350