Dollar Continues To Slide

The dollar sank against major currencies in U.S. trading Wednesday amid diminishing expectations that Germany’s central bank would lower interest rates during its policy-making meeting on Thursday.

The drop followed a sell-off of dollars in the United States on Tuesday and in overnight trading overseas after the Federal Reserve decided to leave short-term U.S. interest rates unchanged.

In late New York trading, the dollar was quoted at 88.39 Japanese yen, down from 88.90 late Tuesday. It recovered after falling as low as 88.03 yen in late London trading, just above the record intraday low of 88.01.

The dollar also was changing hands in New York at 1.3827 German marks, down from 1.3880.

Exchange Currency in Dollars Dollar in foreign currency Canada .7125 1.4036 France .2054 4.8697 Germany .7239 1.3815 Great Britain 1.6105 .6209 Italy .000587 1702.75 Japan .011325 88.30