TOKYO , Dec. 17 -- ( Kyodo ) _ The U.S. dollar stayed mostly in the lower 103 yen zone Tuesday morning in Tokyo as market players retreated to the sidelines ahead of the U.S. central bank's policy meeting starting later in the day. At noon, the dollar fetched 103.04-06 yen compared with 102.96-103.06 yen in New York and 102.87-88 yen in Tokyo at 5 p.m. Monday . The euro was quoted at $1.3762-3766 and 141.81-85 yen against $1.3756-3766 and 141.71-81 yen in New York and $1.3750-3751 and 141.45-49 yen in Tokyo late Monday afternoon. The dollar was stuck just above the 103 yen line in Tokyo deals, although some market participants are bracing for the possibility that the U.S. Federal Open Market Committee will decide to reduce its stimulus program in its two-day meeting, said Minori Uchida , head of Tokyo global market research at the Bank of Tokyo-Mitsubishi UFJ . "Market players may have already factored in the possible drop of the U.S. currency in case tapering (of the Fed's quantitative easing) was decided," said Uchida. In New York overnight, the U.S. currency was bought against the yen, helped by better-than-expected U.S. manufacturing output data for November.
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