TOKYO, Nov. 4, 2009 (Kyodo News International) -- The U.S. dollar fell to the mid-90 yen level Thursday morning in Tokyo on prospects that the United States will keep its interest rates low for a while following the Federal Reserve's policy meeting overnight.

At noon, the dollar fetched 90.47-51 yen, down from 90.69-79 yen in New York and 90.55-56 yen in Tokyo at 5 p.m. Wednesday.

The euro traded at $1.4843-4845 and 134.30-37 yen against $1.4856-4866 and 134.79-89 yen in New York and $1.4745-4746 and 133.52-56 yen in Tokyo late Wednesday.

The dollar came under pressure after the Federal Reserve decided Wednesday to hold its target for overnight interest rates to zero to 0.25 percent and reiterated in a statement after the meeting its pledge to keep the target there for an ''extended period'' to support an economic recovery, dealers said.

The Fed's commitment to maintaining the low-rate policy prompted market participants to sell the low-yielding dollar for higher-yielding currencies such as the euro, dealers said.

The yen is also a low-yielding currency. But between the dollar and the yen, the U.S. unit weakened, they added.

Though many investors in the currency market had anticipated that the Fed statement would include the phrase ''extended period,'' it helped them reaffirm a low interest rate policy in the United States for a while, said Hideki Hayashi, global economist at Mizuho Securities Co.

''The current trend to sell the dollar for higher-yielding currencies and commodities is expected to remain intact,'' Hayashi said.

The market is awaiting the outcome of policy meetings of the Bank of England and the European Central Bank later in the day as well as U.S. employment data for October to be released Friday, analysts said.

Market participants are focused on whether there will be any comments from European central bank officials expressing support for a strong dollar to keep recent rises in the euro in check, analysts said.