The U.S. dollar sank to a one-and-a half-month low in the lower 88 yen zone in New York on Tuesday in response to the downward revision to the nation's gross domestic product for the third quarter.

The dollar briefly slipped to 88.35 yen, the lowest level in New York since early October, before standing at 88.45-55 yen at 5 p.m., compared with 88.65-66 yen in Tokyo at 5 p.m. Tuesday.

The euro traded at $1.4963-4973 and 132.35-45 yen at 5 p.m. versus $1.4910-4911 and 132.18-22 yen in late Tokyo trading.

Players became bearish about the course of the U.S. economy and unloaded part of their holdings of the U.S. currency after the Commerce Department revised downward the July-September real GDP growth by 0.7 point from an earlier estimate to an annualized 2.8 percent gain, analysts said.