Euro extends gains versus dollar, rises above $1.37

NEW YORK Fri Feb 1, 2013 9:53pm IST

NEW YORK Feb 1 (Reuters) - The euro extended gains versus the dollar to hit a session peak in late morning trade on Friday, buoyed by euro zone manufacturing data and as U.S. data reaffirmed expectations the Federal Reserve will continue its stimulative policy.

The euro rose as high as $1.3711 on Reuters data and was last up 1 percent at $1.3707.

A rally in stocks, which pushed the Dow Industrials above the 14,000 level for the first time since October, 2007, boosted demand for "risk-on" currencies such as the euro.

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