2020.09.2221:08:00UTC+00Dollar Extends Uptick

The U.S. dollar extended recent gains on Tuesday, hitting multi-week highs against Swiss franc and the Euro, as risk appetite waned further.

Comments by Chicago Federal Reserve President Charles Evans that any additional quantitative easing from the Fed is unlikely to result in any quick recovery of the economy.

Speaking before the House Financial Services Committee this morning, the Federal Reserve Chairman Jerome Powell said the path forward "will depend on keeping the virus under control, and on policy actions taken at all levels of government."

He said both employment and overall economic activity remain well below their pre-pandemic levels and the path ahead continues to remain highly uncertain.

U.S. Treasury Secretary Steven Mnuchin said the White House continues to seek an agreement with both parties in Congress on another fiscal relief package.

The dollar index rose to 94.08, and was last seen at 93.96, up 0.32% from previous close.

Against the Euro, the dollar firmed up to $1.1710, gaining more than 0.5%. Preliminary data from the European Commission showed Eurozone consumer confidence improved more-than-expected in September to its highest level in six months.

The flash consumer confidence index climbed to -13.9 from -14.7 in August. Economists had expected a score of -14.6. The latest reading was the highest since March, when it was at -11.6.

The Pound Sterling was weaker by over 0.6% fetching $1.2734.

The Yen eased to 104.96 a dollar, giving up about 0.3% from Monday's close.

The Aussie was weaker at US$0.7170, about 0.75% lower than previous closing level.

The Swiss franc drifted down nearly 0.6% with a unit of greenback fetching CHF0.9198, and the Loonie was hovering at C$1.3300, not much changed from Monday's close.