Euro stays under pressure in Tokyo

The euro stayed under pressure against major currencies on Tuesday with traders still searching for a safe place to put their money as European debt problems continued. The single currency was rangebound in Tokyo morning trade, buying $1.2525 and 99.61 yen. It had been trading at $1.2543 and 99.95 yen in London on Monday. US markets were closed Monday for a holiday. The dollar was at 79.52 yen, largely unchanged despite Japan and China announcing they would start direct trading in their currencies on Friday to push business between the two Asian economic giants. The euro fell as investors sold higher-yielding but riskier currencies, said a senior dealer at a major bank in Tokyo.