Euro extends gains versus dollar, hits session high
NEW YORK Jan 30 (Reuters) - The euro extended gains versus the yen to hit a session high on Wednesday after data showed the U.S. economy unexpectedly contracted in the fourth quarter, in contrast to an improving economic outlook in the euro zone.
The euro rose as high as $1.3577 on Reuters data and was last up 0.6 percent on the day at $1.3570.
Analysts at Action Economics said model funds and momentum accounts continue to drive demand, while sell offers were noted in the $1.3575-80 area. Option barriers at $1.3600 could also cap near-term gains, traders said.
- Tweet this
- Share this
- Digg this
U.S. President Barack Obama and Indian Prime Minister Narendra Modi on Tuesday plan to discuss issues ranging from manufacturing to sanitation as the two leaders aim to deepen ties. Story | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article