LONDON, Feb 27 (Reuters) - The euro extended gains towards earlier record highs versus the dollar on Wednesday, after ECB Governing Council member Axel Weber said market expectations for rate cuts fail to consider the dangers of higher inflation.
The euro was at $1.5060 <EUR=> by 1204 GMT from around $1.5036 before the Weber comments, moving back towards record highs of $1.5087 set earlier in the session according to Reuters data. It also hit a six-week high at 75.84 pence <EURGBP=>.
"It's another confirmation that the ECB is not ready to cut rates," said Niels Christensen, FX strategist at Nordea in Copenhagen.
"They are still worried about the inflation outlook and this view is supported by strong German data."
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http://www.reuters.com/article/marketsNews/idINL2732967020080227?rpc=611
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