IMF Chief Resigns, Will Make New Bid For Bail

WASHINGTON (AP) - Dominique Strauss-Kahn has resigned as head of the International Monetary Fund.

Strauss-Kahn, who faces sexual assault charges in New York City, told the IMF executive board in a letter that his resignation comes with "great sadness" but that he felt compelled to resign.

In the letter, Strauss-Kahn denies the allegations against him, but says he's thinking of his family and wants to protect the IMF.

Lawyers for the 62-year-old diplomat are expected to ask a judge Thursday that Strauss-Kahn be released on bail.