Dollar Tumbles Against Mark, Yen

The dollar tumbled against the Japanese yen and the German mark Tuesday after the Federal Reserve decided against making another interest rate hike.

The Fed’s policy-making Federal Open Market Committee met for more than three hours before deciding to leave rates unchanged, an action that analysts had expected. Higher rates would have made dollar-denominated holdings more attractive.

In late New York trading, the dollar was quoted at 88.90 yen, down from 89.45 late Monday.

The dollar also was changing hands in New York at 1.3880 marks, down from 1.4063.

Currency in Dollar in

Exchange Dollars foreign currency

Canada .7129 1.4028

France .2039 4.9040

Germany .7205 1.3880

Great Britain 1.6150 .6192

Italy .000589 1697.00

Japan .011242 88.95