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Euro drops 1 percent versus yen

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LONDON, March 21 | Thu Mar 21, 2013 5:30am EDT

LONDON, March 21 (Reuters) - The euro fell 1 percent against the yen on Thursday, hurt by gloomy economic data out of the eurozone and which has kept alive risks of a prolonged recession.

The euro fell to 122.88 yen, holding just above its 55-day moving average of 122.68 yen.

The yen's gains could run out of steam with traders awaiting a news conference from new Bank of Japan governor Haruhiko Kuroda and deputy governors Kikuo Iwata and Hiroshi Nakaso.

They are widely expected to signal aggressive easing of monetary policy.
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