* Yen gets bit of a respite after last week's drop. * But yen down nearly 12 pct vs dollar in 2012. * Dollar/yen backs off from highest since Aug 2010. * Near-term focus on U.S. fiscal cliff negotiations. The yen held above a two-year low versus the dollar on Monday but remained on track for its largest annual drop in seven years, pressured by expectations for more forceful monetary easing by the Bank of Japan. The dollar last stood at 85.91 yen, having retreated from Friday's high of 86.64 yen, which was the greenback's strongest level versus the Japanese currency since August 2010. As ... (Read the full story)
