* EU/IMF agree on new debt target for Greece * Euro falls from 1-month high as scepticism on deal grows * Yen weak after Japan opposition leader urges bolder stimulus By Anooja Debnath LONDON, Nov 27 (Reuters) - The euro retreated against the dollar on Tuesday, surrendering initial gains on a deal to rescue Greece as scepticism about the broader euro zone returned to weigh on the single currency. The euro fell to a session low of $1.29350 on trading platform EBS, well below a one-month high of $1.3010 struck earlier during the Asian session when the Greek deal was agreed. It was last trading at $1.2955, down 0.2 percent on the day. The dollar was also bolstered after Federal Reserve Bank of Dallas President Richard Fisher, an arch-hawk, voiced concerns about the U.S. Federal Reserve's quantitative easing programme at a conference in Berlin. Fisher's comments helped the dollar index recoup losses. The index was last trading at 80.286, off a four-week low of 80.022 struck earlier in the session when the euro was firmer. International lenders agreed on a package of measures to reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020, in a deal that paves the way for the release of urgently needed loans to keep Greece's economy afloat. Analysts however said the Greek deal would provide a temporary relief and the worsening economic outlook for the euro zone under relentless austerity measures would keep the euro under pressure, especially against the dollar. "The initial reaction was positive for the euro as at first people were relieved that an agreement had been reached but looking at the details sentiment has turned a bit sour," said Niels Christensen, FX strategist at Nordea. "The problem for Greece might be solved for the moment but there are bigger problems like Spain, and with the dire growth outlook for the euro zone, that will be very difficult to solve." Christensen also said the euro's failure to move decisively above $1.30 might have triggered some profit taking on long euro/dollar positions. This could wind back the single currency's recent gains. Near-term support for the euro lay at its 55-day moving average of $1.29187. The euro had risen nearly 2 percent against the dollar in the past two weeks, supported by expectations for a deal on Greece and also due to optimism that U.S. lawmakers would reach an agreement to avoid the 'fiscal cliff' of tax increases and spending cuts due to take effect next year. BUY ON DIPS FOR YEN Japan's opposition leader, Shinzo Abe, the country's likely next prime minister after an election next month, reiterated calls for bolder monetary and fiscal stimulus to revive the country's economy. That is likely to keep the yen under pressure, despite its slight recovery on Tuesday. It was higher against the euro and flat against the dollar. The dollar was trading at 82.10 yen, up 0.1 percent on the day and off a 7-1/2 month high of 82.84 yen hit last Thursday. The Japanese currency has fallen sharply over the past couple of weeks on mounting speculation that a new government after Dec. 16 general elections will coerce the Bank of Japan into easing monetary policy aggressively. "We have seen a bit of a dip in dollar/yen this morning but in the medium term we remain bullish. I would view dips as opportunities to buy rather than something more permanent," said Saeed Amen, quantitative FX strategist at Nomura. He expects dollar/yen to be at around 85 yen by mid-2013. Data from the U.S. Commodity Futures Trading Commission showed that currency speculators increased their bearish bets against the yen in the week ended Nov. 20, a period when the Japanese currency began its slide.