Euro extends gains vs dollar on strong ZEW survey

The euro extended gains against the dollar on Tuesday, rising one percent on the day, buoyed by a stronger-than-expected German economic sentiment survey.

The ZEW's heading economic sentiment indicator rose to 15.4 points in January from 4.3 points in December, way above forecasts for 6.8.

The euro rose around 25 pips against the dollar after the data, hitting a session high of $1.3428 EUR= according to Reuters data, a rise of just over 1 percent on the day. At 1006 GMT, the euro dipped back to $1.3412. more