NEW YORK Nov 15 The euro hit a session high versus the U.S. dollar on Thursday but the greenback gained against the yen after data showed factory activity in the U.S. mid-Atlantic region unexpectedly contracted in November.
The euro hit a high of $1.2798 after the release of the survey. It last traded at $1.2792, up 0.5 percent on the day.
Against the yen, the dollar rose after the release of the survey and last traded at 81.18 yen, up 1.2 percent on the day, according to Reuters data.
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Two years ago India was a "fragile five" economy growing at 5 percent, facing a severe current account deficit and the rupee at record lows as the U.S. Fed Reserve prepared to taper its stimulus programme. Today, two years into the term of RBI Governor Raghuram Rajan, India is set to confidently face the Fed's first rate rise since 2006. Full Article