The US dollar reversed an early drop, driven by stop-loss selling after a break of key technical levels in the US session, to end the Asian session not far from its New York closing levels At 3.21 pm (0721 GMT) here, the US dollar was at 110.95 yen, down from 111.07 yen just over three hours earlier in Tokyo. The euro was at 1.2327 usd, up from 1.2323 in Tokyo Concerns about Japan's domestic politics also dominated market attention this morning after reports that parliament there might delay a vote on legislation to privatize the postal system because senior ruling party members are increasingly wary of the prospect of a general election Prime Minister Junichiro Koizumi has threatened to call a general election if the legislation is defeated, but opponents within his own governing party of privatization of the postal system remain defiant Still, it was last night's breach of 1.2255-1.2260 usd against the euro that set the tone for a sharp dollar retreat this morning in Asia. But by the end of the morning session, the greenback had recovered to where it ended in New York and then was held in narrow ranges in afternoon trading here as the market paused for breath "It's more technical at the moment. The yen led the move just after the Tokyo fixing," said a market analyst here.