(RTTNews) - The dollar extended its strong recent gains versus the euro Monday morning in New York, touching its highest since January amid lingering concerns that Europe will struggle to contain its sovereign debt crisis. Stocks sold off in Asia in Europe overnight, as markets were spooked by the possibility that a Greek restructuring will roil Europe's banking sector. The major European stock market averages are down over 2 percent after the Greek government acknowledged that it will miss its 2011-12 deficit targets set by the EU and International Monetary Fund as part of the country's bailout. Looking ahead on today's economic calendar from the U.S., the Institute for Supply Management's factory index for September is due at 10 am ET. Figures on construction spending for August from the Commerce Department are also on tap. Economists expect the ISM survey to remain unchanged at 50.6, while construction spending is seen down 0.3 percent, compared with a 1.3 percent drop in July. The buck rose to an 8-month peak of $1.3312 versus the euro, up more than a penny from Friday. There was little movement versus the sterling, with the dollar holding near $1.55. The buck remained in a coma versus the yen, sitting still at Y76.80. The dollar hit a record low of 75.91 in August.

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