US dollar steady against euro, slightly weaker versus sterling

The US dollar held relatively steady in relation to the euro on Tuesday, trading at $1.3460 versus the euro at mid-session in New York. The greenback held on to previous levels despite new economic data that was weaker than had been hoped. Sterling, however, added 0.1 percent to $1.9990 on the dollar after having gone as high as $2.0016 earlier in the session

The yen strengthened on the session as investors backed away from risky carry trades, worried about the implications of the ongoing problems in the US subprime mortgage sector. The yen had added 0.3 percent to ¥246 in relation to sterling, while it had gained 0.5 percent to ¥123.10 versus the US dollar and was also 0.5 percent higher to ¥165.70 against the euro.

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