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Location: Investing.com -- EUR/USD extended sharp gains from the previous session surging to five-month highs, as foreign exchange traders continued to digest a dovish monetary policy decision from the Federal Reserve 24 hours earlier. The currency pair traded in a broad range between 1.1206 and 1.1343, before settling at 1.1317, up 0.88% on the session. At session-highs, the euro soared to its strongest level against the dollar since mid-October. The developments may be unsettling for Mario Draghi and his colleagues at the European Central Bank, whose efforts to depress the euro as a means for boosting exports are increasing appearing futile. Since the ECB's Governing Council approved a wide range of easing measures last week, the euro has jumped nearly 3% against the dollar.