The euro extended gains against the dollar on Thursday, snapping a two-day drop as investors looked for a new trigger to spark another fall.

The euro hit a global session high of $1.3119 and last traded at $1.3114, up 0.7 percent on the day, according to Reuters data.

Stocks gained, with the S&P 500 index retaking 1,400 for the first time in four years.

The dollar hit a one-month peak against the euro on Wednesday as higher U.S. Treasury yields lifted its appeal. Fixed income security yields move inversely to prices.