TOKYO, Oct. 23 (Xinhua) -- The U.S. dollar Thursday traded at upper 97 yen zone after briefly sank to a fresh seven-month low in the upper 96 yen range.

    At 5 p.m., the dollar traded at 97.68-70 yen against Wednesday's 5 p.m. quotes of 97.62-72 yen in New York and 99.29-31 yen in Tokyo.

    It moved between 96.85 yen and 98.33 yen during the day, changing hands most frequently at 97.50 yen.

    The euro temporarily sank to the mid-123 yen level, its lowest level since December 2002, on heightened fears that the eurozone economy could deteriorate further and prompt the European central bank to cut interest rates.