Dollar Falls On Bond Market Sell-Off

The dollar tumbled Wednesday morning in response to a U.S. Treasury bond sell-off, then spent an unsuccessful day trying to recover.

The dollar also fell because of trading cross-currents in Europe. The German mark and other European currencies have been gaining at the expense of the dollar, which was battered as hopes faded for agreement soon on adoption of a single European currency.

In late New York trading, the dollar ended at 100.46 Japanese yen, down from 101.08 yen Tuesday. It also fell to 1.4248 German marks from 1.4393 marks.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7416 1.3485 France .2043 4.8955 Germany .7037 1.4210 Great Britain 1.5780 .6337 Italy .000623 1604.00 Japan .010097 99.04 Mexico .156189 6.4025