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CORRECTED - Sterling adds to losses, hits 1-month low vs dollar

Mon Jul 6, 2009 4:09am EDT

(Corrects second graf to say change was from Friday, not Thursday)

Currencies  |  U.K. Markets  |  Global Markets

LONDON, July 6 (Reuters) - Sterling hit a one-month low against the dollar on Monday as traders continued to dump the UK currency after on the back of last week's dismal U.S. payrolls figures, which cast doubt about an improvement in the global economy.

Sterling GBP=D4 fell more than 1 percent from Friday to $1.6134. its weakest since early June.

Some traders cited macro funds selling the pound against the U.S. currency, while other said that stop-loss orders were also triggered around the $1.62 region.

The pound GBPJPY=R slumped 1.5 percent against the yen to around 153.90, roughly its weakest since early June. Market participants said slide in the pair was dragging sterling lower across the board. The euro EURGBP=R was up 0.8 percent at 86.31 pence according to Reuters data, its highest in around a month. (Reporting by Naomi Tajitsu)

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