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

Euro extends gains after breaking $1.20 line

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.

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

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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