February 11, 2013 / 4:25 PM / 5 years ago

Euro extends gains vs dollar and yen to hit session high

NEW YORK, Feb 11 (Reuters) - 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 Reuters data.

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 the currency.

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.

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