Euro under pressure before policy-setting meeting of European Central Bank (ECB). -- Market leaning toward a rate cut of 25 basis points but some are sceptical because of the bank's rigid stance in the past. -- Single currency at 89.65/70 cents and 108.44/54 yen , against 89.83 cents and 108.60 yen in late U.S. trade. -- Dollar subdued after earlier rally, triggered by worries about health of Japanese banking system, ran out of steam. -- Greenback now quoted at 121.00/05 yen , down from day's high of 121.38 yen but still slightly above 120.89 yen in late New York trade.