By means of investigating the time evolution of atomic dipole squeezing and field squeezing in the system of a three-level atom interacting with a single cavity mode and a pair of cavity modes, the relations between atomic squeezing and field squeezing are examined. The properties of the squeezing transformation between the atomic dipole quadrature components and the quadrature components are discussed. The conditions under which the initial atom in atomic dipole squeezing state can radiate squeezed light are presented.