Sterling was trading at
$1.3440, down more than 2% from Friday's close. Against the euro it was trading
at €1.2165, down 1.3%.
On Friday the pound had its
biggest one-day fall against the dollar, at one stage sinking as low as
$1.3236.
Some traders are betting
that the pound still has further to slide.
Jeremy Cook, chief economist
at World First, said: "We are still looking for another 10% fall for the
pound against the dollar in the coming months as data confirms the economic
slowdown and monetary policy expectations increase."
The pound fell further
against the yen on Monday, a currency considered to be a safe haven, to 137.16
yen - down from about 139.64.
US gold futures also rose,
up 1% to $1,335 an ounce.
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