* Republicans pull tax bill from House floor
* US House to adjourn until after Christmas
* Thin year-end markets exacerbating FX swings -analyst
By Masayuki Kitano
SINGAPORE, Dec 21 The euro fell against the
dollar on Friday as Republican House Speaker John Boehner
abandoned his Bill to avoid the "fiscal cliff", conceding there
weren't enough votes for it in the chamber.
Boehner handed back responsibility for getting a bill passed
to President Barack Obama and his Democrat-dominated Senate, and
Republican Representative Peter Roskam said the U.S. House of
Representatives would adjourn until after Christmas,
The euro fell 0.3 percent to $1.3208, pulling away
from an eight-month high of $1.33085 that had been hit on
Wednesday on trading platform EBS.
"The market is jittery and unsure about what might happen,"
said Satoshi Okagawa, senior global markets analyst for Sumitomo
Mitsui Banking Corporation in Singapore.
Some market players, however, were still holding out hope
for an eventual compromise, he said, adding that currency swings
were being exaggerated in thin year-end market conditions.
The renewed jitters over the fiscal cliff, steep U.S. tax
increases and spending cuts due to take effect early next year,
dented risky assets and currencies and lifted the safe-haven
The yen, which has been pressured by market expectations
that a new Japanese government would push the Bank of Japan into
more forceful monetary easing, regained a bit of ground as risk
The dollar eased 0.2 percent to 84.23 yen, inching
away from a 20-month high of 84.62 yen struck on Wednesday. The
euro fell 0.5 percent to 111.20 yen.
The Australian dollar slipped 0.3 percent to $1.0447