December 18, 2012 / 3:50 PM / 5 years ago

Euro extends gains, hits fresh 7-1/2-month high vs US dollar

1 Min Read

NEW YORK, Dec 18 (Reuters) - The euro climbed to a fresh 7-1/2-month peak against the dollar on Tuesday above $1.32, boosted by optimism about the chances for a U.S. budget deal.

U.S. House of Representatives Speaker John Boehner said on Tuesday President Barack Obama's most recent budget deal offer "is not there yet" but he still hopes he can reach an agreement with the White House.

A U.S. fiscal deal is viewed as positive for risk sentiment and should benefit riskier currencies such as the euro at the expense of the safe-haven dollar.

The euro hit a high of $1.3201, its strongest since early May. It was last at $1.3198, up 0.3 percent.

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