NEW YORK (AP) — The dollar rout paused on Tuesday morning, with the euro hovering just short of $1.50 as stocks trickled lower.

Over the weekend, the world's leading economies agreed to keep stimulus measures in place, while the Group of 20 finance ministers steered clear of mentioning the weakness of the U.S. currency.

That drove the value of the dollar against a basket of six major currencies to its lowest level since August 2008 on Monday.

On Tuesday, the 16-nation euro dipped to $1.4971 from $1.4999 late Monday after rising above $1.50 in European trading. The British pound slid to $1.6711 from $1.6752. Meanwhile, the dollar fell to 89.74 Japanese yen from 89.99 yen.

Investors around the world are seeing the dollar as weaker than other currencies because of U.S. interest rates near zero and huge budget deficits. They're using it for what's known as "carry trade." That means traders borrow dollars to make bets on riskier assets such as emerging-market currencies, oil or equities. When those riskier bets are made, it weighs on the dollar's value.

Stocks were slightly lower in morning trading, with the Dow Jones industrial average dropping 0.2 percent and the Standard & Poor's 500 down 0.3 percent.

In a note prepared for the meeting over the weekend, the International Monetary Fund said the dollar was "now serving as the funding currency for carry trades," and that these trades may be "contributing to upward pressure on the euro."

On Tuesday, traders took a break from selling the dollar. However, analysts say the "carry trade" will continue, weighing on the dollar, until the Fed signals it will start raising interest rates from their current range near zero in the near- or medium-term future.