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
- EXCLUSIVE - Apple iPhone 6 screen snag leaves supply chain scrambling
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Arvind Subramanian likely to be chief econ adviser
- UPDATE 3-Dynegy cuts exposure to wholesale power with deals worth $6.25 bln
- Nifty touches record high; software stocks gain
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article