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DOLLAR LOSES MORE GROUND

The embattled dollar took yet another pounding Friday, tumbling to a new post-World War II low against the Japanese yen after a rescue attempt by the Federal Reserve failed.

The dollar closed at 106.95 yen after recovering from a new low of 106.81 yen, which was reached in overseas markets.

Dealers said the Fed was buying tens of millions of dollars, which were relatively small amounts, compared with the Bank of Japan's aggressive purchases of hundreds of millions of dollars. Although the Fed was more active than before, traders said they would not be convinced of the central banks' resolve to rescue the dollar unless the European central banks also joined in.

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