NEW YORK Feb 11 The euro extended gains versus
the dollar and Japanese yen to
hit global session highs on Monday after European Central Bank
policymaker Jens Weidmann dismissed talk of intervening to
weaken the euro.
The euro hit a session high of $1.3425 and last
traded at $1.3418, up 0.4 percent on the day, according to
The euro hit a session high of 125.44 yen and last
traded at 125.34, up 1.2 percent on the day.
Discussions about an overvaluation of the euro are simply a
diversion from governments' task of sorting out their economies,
Weidmann said on Monday, resisting political pressure to weaken
France insisted on Monday that euro zone finance officials
should discuss the rising strength of the euro, but several
ministers played down the issue and the G7 was expected to call
for "market-determined" exchange rates.