NEW YORK The dollar plunged to a three-week low against theGerman mark and declined against other key currencies Thursday asdealers reacted to European interest rate increases and adisappointing sale of U.S. Treasury bonds.
Trading centered on European currencies for much of the day,after the Swedish and Italian central banks raised official rates.
Compounding the dollar's interest rate woes, the Treasury'soffering of $11 billion in 30-year bonds was poorly received.
The dollar fell to 1.5608 German marks from 1.5840. It alsoslipped to 100.23 Japanese yen from 101.35. The British poundrose to $1.5458 from $1.5365.
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