Sterling, US dollar weaken

The yen were helped Monday by continued declines in many global markets as investors avoided carry trades, holding steady at ¥162.60 in relation to the euro, it added 0.7 percent to ¥239.10 versus sterling.

The pound, in turn, was 0.4 percent lower to $2.0230 against the US dollar and dropped 0.7 percent to £0.6801 in relation to the euro.

The dollar weakened, falling 0.3 percent versus the euro to $1.3815 in midday trade in New York after going as low as $1.3839, near an all-time low, earlier in the session, while it also dropped 0.3 percent to ¥117.70 in relation to the yen and was down 0.5 percent to SFr1.1850 against the Swiss franc, which was also aided by market volatility.

The weakening of the greenback came not only on unsettled equities markets but on economic data that made it seem more likely that the Federal Reserve could cut interest rates before the year is out, although it is expected to hold rates steady at its meeting this week.

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