NEW YORK Jan 30 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.
Trending On Reuters
State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour. Read