(Updated, 11:15 a.m.)

MIAMI – Forecasters say Tropical Storm Danny has weakened over the Atlantic Ocean as it heads north through the Carolinas and is now barely a tropical storm.

The storm is currently centered about 350 miles south of Cape Hatteras, N.C., with sustained winds of almost 40 miles per hour, and is no longer expected to strengthen into a hurricane. A tropical storm watch is still in effect this morning on the North Carolina coast.

Residents “elsewhere from the Carolinas northward to New England and the Canadian Maritimes should monitor the progress of Danny,” the National Hurricane Center said in an 11 a.m. update on its Web site. “Large swells from Danny are expected to produce dangerous surf conditions and life-threatening rip currents along the U.S. East Coast during the next day or two.”

Moving north-northwest at a speed of 9 mph, Danny is expected to pass about 60 miles southeast of Nantucket tomorrow. Forecasters predict the storm will bring heavy rain to the area.