Dollar falls against yen, euro as hopes for a rate cut fade

Demand for dollars also fell today after WorldCom Inc. said it found an additional US$3.3 billion in misreported financial results, renewing concern about the reliability of US corporate accounting. "WorldCom's revelation of further losses is weighing on the dollar," Cholakis said.

Evidence of a larger trade surplus in Germany, the biggest economy using Europe's common currency, also helped to boost the euro against the dollar, traders said.