FOREX-Euro surges to sesion peak vs dollar, up 1 pct on day

NEW YORK, Nov 19 (Reuters) - The euro rose to a session high against the dollar on Wednesday in a move analysts said was related to a large buy order for the single currency.

The euro rose suddenly to a session high of $1.2767 from around $1.2640. It last traded at $1.2751, up 1 percent from late Tuesday.

Michael Woolfolk, senior currency strategist at The Bank of New York-Mellon, said the move was tied largely to flows, not fundamentals, and said it began after two U.S. economic reports had been digested by the market.

"Conditions are very illiquid, and in such market conditions, even a liquid pair such as euro-dollar can be affected by a large order," he said. (Reporting by Steven C. Johnson; Editing by Theodore d'Afflisio)

source