European stocks slipped Thursday, taking their cue from downbeat sessions on Wall Street and in Asia, the conflict in Gaza, jitters ahead of some key euro-zone and U.S. data releases, and the U.S. 'fiscal cliff' negotiations. The euro, however, continued to hold its ground against the dollar, while the yen hit a six-and-a-half month low against the greenback amid expectations that Japanese elections in December will lead to a new government intent on easing monetary policy further.

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