-- Japanese authorities continue to intervene in European hours to weaken yen -- But run into sizeable Japanese yen-buying interest around Y80 -- Dollar rises across the board as traders become gloomier -- Turkish lira sinks after central bank cuts key interest rate By Jessica Mead Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The yen took center stage during European trading hours Thursday as Japanese authorities continued their effort to weaken the currency and bought dollars, pushing the greenback higher across the board. The Bank of Japan is so far estimated to have spent between $20 billion and $30 billion on behalf of the Ministry of Finance to curb yen appreciation, pushing the dollar above Y80 against the yen for the first time since July 12 and lifting the euro above Y114. But Japanese exporters' reported demand for yen at these levels as well as options-related interest meant the dollar struggled to move higher, and eased back. The greenback was stronger against growth-sensitive currencies--including the euro and Australian dollar--as traders pulled out of riskier bets and moved into the safe-haven buck, as economic growth worries sent European shares tumbling. "There's a lot of uncertainty and there are still question marks about global growth. People are not optimistic right now," said Ankita Dudani, currency strategist at RBS in London. The euro sank towards $1.42 against the dollar despite well-covered and better-than-expected Spanish short-dated bond auctions and tighter euro-zone peripheral bond yield spreads. The gloomier tone also sent the Australian dollar to below $1.06 against the buck. The Turkish lira weakened some 2% against the dollar after the central bank unexpectedly cut Turkey's key interest rate to 5.75% from 6.25%, while raising the overnight borrowing rate, but trimmed some of its losses on news the central bank would be selling dollars. Dollar strength sent sterling to the day's lows ahead of the Bank of England monthly rate decision. The pound was then unmoved after policy was kept on hold. The Monetary Policy Committee once again held its benchmark interest rate at 0.5% and maintained the stock of asset purchases at ??200 billion as expected. The main focus of the session ahead will be the European Central Bank press conference at 1230 GMT. While the ECB is not expected to change rates at 1145 GMT, some strategists are suggesting it might consider resuming purchases of government bonds given the severe volatility in Italian and Spanish markets. At 1100 GMT, the euro was trading at $1.4259 against the dollar, compared with $1.4322 late Wednesday in New York, according to trading system EBS. The dollar was at Y79.77 against the yen, compared with Y77.07, while the euro was at Y113.63 compared with Y110.37. Meanwhile, the pound was trading at $1.6346 against the dollar, compared with $1.6429. The ICE Dollar Index, which tracks the greenback against a basket of currencies, was at 74.74 compared with 74.03 late Wednesday 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 1034 GMT 1.4280 79.31 1.6366 0.7784 3 Day Trend Bearish Bullish Range Bearish Weekly Trend Bullish Bearish Bullish Bearish 200 day ma 1.4022 81.94 1.6081 0.9003 3rd Resistance 1.4375 80.83 1.6478 0.7925 2nd Resistance 1.4332 80.50 1.6439 0.7857 1st Resistance 1.4273 80.25 1.6395 0.7814 Pivot* 1.4270 77.09 1.6369 0.7701 1st Support 1.4207 79.26 1.6286 0.7742 2nd Support 1.4197 78.82 1.6259 0.7685 3rd Support 1.4143 78.24 1.6220 0.7635 Forex spot: EUR/JPY Spot 1028 GMT 113.94 3 Day Trend Bullish Weekly Trend Bearish 200 day ma 114.80 3rd Resistance 115.33 2nd Resistance 114.78 1st Resistance 114.20 Pivot* 110.01 1st Support 113.05 2nd Support 112.02 3rd Support 110.72 -By Jessica Mead, Dow Jones Newswires; +44 (0) 20 7842 9256, jessica.mead@dowjones.com (Dow Jones Technical Strategist Francis Bray contributed to this story.)

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