August 29, 2017 / 8:13 AM / a month ago

Euro extends gains after breaking $1.20 line

FILE PHOTO - A two Euro coin is pictured next to an English ten Pound note in an illustration taken March 16, 2016. REUTERS/Phil Noble/Illustration

LONDON (Reuters) - The euro jumped more than half a percent on Tuesday as investors bought the single currency, betting on the diverging fortunes of the improving euro zone economy relative to its struggling U.S. counterpart.

The single currency extended gains after surging past a key level of $1.20 in early trades to be up 0.6 percent on the day at $1.2045.

It has gained 14.5 percent so far this year and is the best performing currency in the G10 currency space.

Reporting by Saikat Chatterjee

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