Dollar Falls After Rate Cuts

The dollar fell across the board to profit taking Wednesday during a day of market gyrations as the United States and Germany cut interest rates.

Late in U.S. trading, the Federal Reserve announced it was cutting two interest rates, prompting the dollar to dance both north and south against the mark and yen.

By 4 p.m. in New York, the dollar bought 1.4891 marks, compared with 1.4893 marks Tuesday. The dollar ended at 107.04 yen, down from 107.25 yen.

Exchange Currency in Dollars Dollar in foreign currency Canada .7280 1.3737 France .1958 5.1070 Germany .6715 1.4891 Great Britain 1.5122 .6613 Italy .000632 1583.20 Japan .009342 107.04 Mexico .136054 7.3500