-- Sterling tumbles as BOE minutes show some support for more aggressive quantitative easing -- Euro stays broadly flat as implementation worries offset bailout optimism -- Japanese yen weakens against dollar, punching above Y80 for first time in seven months By Alexandra Fletcher Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Sterling tumbled in European trading hours Wednesday on news that some policymakers at the Bank of England voted for more aggressive bond-buying to boost the U.K. economy, while the euro was broadly flat as the euphoria from Greece's bailout deal continued to die down. The pound fell below $1.57 against the dollar before steadying after it was revealed that two of nine members on the central bank's Monetary Policy Committee had voted earlier this month for more aggressive stimulus--GBP75 billion of additional bond purchases rather than the GBP50 billion agreed. That helped to damp speculation that the BOE's asset-buying program might actually end in 2012, after a recent run of improved U.K. economic data. "There was no one voting to restrain quantitative easing, so the market has taken it as very dovish," said Peter von Maydell, head of global foreign-exchange strategy at Credit Suisse Group. The euro, for once, took a back seat, range-trading against the dollar and Japanese yen amid caution over whether Greece would follow through with fiscal reforms after an ambitious EUR130 billion rescue deal was struck Tuesday. "The focus will now be on the implementation of the private-sector involvement and the participation rate which, if not enough, could lead to a credit event. The details of the deal will be resolved over the next few weeks and an orderly Greek default cannot be completely ruled out," said Raghav Subbarao, a foreign-exchange strategist for Barclays Capital in a note to clients. The yen, though, remained under pressure, punching above Y80.00 against the dollar for the first time since August. Interest rate differentials between Japan and the U.S. have been widening in the dollar's favor after the Bank of Japan last week announced economic stimulus measures. Looking ahead, there is January U.S. existing home sales data due at 1500 GMT. At 1132 GMT, the euro was trading at $1.3234 against the dollar, unchanged from late Tuesday in New York, according to trading system EBS. The dollar was at Y80.26 against the yen, compared with Y79.75, while the euro was at Y106.24, compared with Y105.58. Meanwhile, the pound was trading at $1.5704 against the dollar, compared with $1.5779 late Tuesday in New York. The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 79.218, compared with 79.094 late Tuesday in New York. A summary of key levels for chart-watching technical strategists is below: Forex spot: EUR/USD USD/JPY GBP/USD USD/CHF Spot 1139 GMT 1.3227 80.35 1.5706 0.9125 3 Day Trend Range Bullish Bearish Range Weekly Trend Range Bullish Range Bearish 200 day ma 1.3515 78.46 1.5814 0.9061 3rd Resistance 1.3322 81.00 1.5878 0.9215 2nd Resistance 1.3293 80.83 1.5824 0.9161 1st Resistance 1.3264 80.38 1.5815 0.9138 Pivot* 1.3238 79.72 1.5806 0.9118 1st Support 1.3217 80.09 1.5694 0.9104 2nd Support 1.3204 79.85 1.5645 0.9083 3rd Support 1.3186 79.62 1.5600 0.9066 Forex spot: EUR/GBP Spot 1140 GMT 0.8423 3 Day Trend Bullish Weekly Trend Bullish 200 day ma 0.8544 3rd Resistance 0.8561 2nd Resistance 0.8500 1st Resistance 0.8466 Pivot* 0.8376 1st Support 0.8380 2nd Support 0.8351 3rd Support 0.8335 -By Alexandra Fletcher, Dow Jones Newswires; +44 (0) 20 7842 9462; alexandra.fletcher@dowjones.com;@djfxtrader (Dow Jones Technical Strategist Francis Bray contributed to this story.)

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