FOREX-Dollar falls after sharp fall in US business index

NEW YORK, Feb 21 (Reuters) - The dollar extended losses on Thursday after a factory activity index for February in the U.S. mid-Atlantic region fell much sharper than expected.

The euro rose as high as $1.4743 <EUR=> from $1.4730 before the data. Against the yen, the dollar fell to 107.85 <JPY=> from 108.05 previously.

The Philadelphia Fed's February business activity index was at minus 24. Economists expected the index to come at minus 11.0 in February, after a plunge to minus 20.9 in January sparked fears of recession. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Theodore d'Afflisio)