Usd/maj. - The greenback retreated against major European currencies except versus the Japanese yen as U.S. stocks sharply cut losses, following a report that the Obama administration was hammering out a program to subsidize mortgage payments for troubled homeowners. The single currency rose abv 1.2854 (NY res) as a major U.S. inv. bank bought euro actively. The British pound also rebounded from around 1.4161 to 1.4277.