Euro dips vs yen after eurozone data, eye on FOMC High Street Networking

6 November 2001, 14:37 Euro dips vs yen after eurozone data, eye on FOMC

Euro dips against yen to session low of 108.83 on speculative sales after eurozone sentiment indicator fell below 10-year average to its lowest since 1997. - Dealers report Japanese and U.S. banks sold around 150 million euros to a Swiss bank, triggering stop-loss at 109.00. Euro expected to find floor at 108.60 trendline support and 108.20, its 200-day moving average. - They add market otherwise quiet ahead of key U.S. rate decision later in the day, but euro generally under pressure due to nervousness ahead of ECB rate decision on Thursday. - Euro at standstill vs dollar at $0.8975. Dollar down 1/3 percent against yen at 121.30 .