Euro extends 7-week high vs dollar, rises 1pc on day

LONDON: The euro extended gains against the dollar on Thursday, gaining one percent on the day to hit a fresh seven-week high as a deal from EU leaders to tackle the euro zone debt crisis continued to buoy the single currency.

The euro rose to $1.40475 on trading platform EBS, its strongest since early September, breaking above a high of $1.40388 hit earlier in the day but stopping short of a reported options barrier at $1.4050. Beyond there it could target the 100-day moving average around $1.4079 and the 200-day average just ahead of $1.41.