Euro rises further against dollar to hit session high

NEW YORK: The euro extended its gains versus the dollar in early trade to hit a session high on Wednesday in the aftermath of US retail sales and producer prices data.

The euro rose as high as $1.37480 on trading platform EBS, and last traded at $1.37294, up 0.4 percent on the day.

Peter Buchanan, an economist at CIBC World Markets in Toronto, said the data provide little evidence that the consumer sector is picking up solidly while inflation remains contained. That should be a negative for the US dollar, he said.

Copyright Reuters, 2011