for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

FOREX-Dollar rises after Fed's Evans comments on quantitative easing

    * Fed's Evans says open-ended QE may not be answer to economic woes
    * Fed's Powell says will do more measures if needed
    * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E

 (Recasts, adds new comment and Fed's Evans remarks, updates prices)
    By Sinéad Carew and Gertrude Chavez-Dreyfuss
    NEW YORK, Sept 22 (Reuters) - The dollar rose to an eight-week high on Tuesday, after a top Federal
Reserve official struck a hawkish tone and said further quantitative easing may not provide additional
lift to the U.S. economy.
    The euro touched an eight-week low against the dollar, while the Swiss franc fell to a seven-week
trough.
    Speaking at a virtual meeting of the London-based Official Monetary and Financial Institutions Forum,
Chicago Fed President Charles Evans said the U.S. economy risked a longer, slower recovery, if not an
outright recession without another fiscal support package. Evans also said he does not see open-ended
quantitative easing as providing an important part of the answer.
    Evans is not a voter at the Federal Open Market Committee this year , but he will be in 2021. 
    "Evan's comments were extremely hawkish. He mentioned pausing QE and rates rising before the inflation
target is reached. That kind of surprised the market," said Edward Moya, senior market analyst at OANDA in
New York.
    "The sooner we get to the other side of this virus, you're going to see rate hike expectations jump up
and that should further drive this dollar rebound."
    The dollar climbed in earlier trading after parts of Europe imposed new restrictions aimed at curbing
surging coronavirus cases.
    Meanwhile Fed Chair Jerome Powell told a congressional panel on Tuesday that while America's economy
has shown "marked improvement" since the coronavirus pandemic drove it into recession, the path ahead
remains uncertain and the U.S. central bank will do more if needed.
    In midday trading, the dollar was last up 0.47% at 94.027 versus a basket of currencies. It hit
a high of 94.086, its strongest level since late July.
    The euro was down 0.6% against the dollar at $1.1703, after falling below a key $1.17 level,
its lowest since late July as well.
    The dollar also gained against the yen, rising for a second day in a row. It was last up 0.38% at
105.04 yen.
    
    ========================================================
    Currency bid prices at 12:13PM (1613 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1703        $1.1769     -0.56%         +4.40%      +1.1773     +1.1693
 Dollar/Yen       JPY=        105.0400       104.6400    +0.38%         -3.51%      +105.0700   +104.4100
 Euro/Yen         EURJPY=     122.95         123.17      -0.18%         +0.82%      +123.2700   +122.6600
 Dollar/Swiss     CHF=        0.9201         0.9143      +0.63%         -4.93%      +0.9203     +0.9138
 Sterling/Dollar  GBP=        1.2731         1.2814      -0.65%         -3.98%      +1.2866     +1.2712
 Dollar/Canadian  CAD=        1.3311         1.3306      +0.04%         +2.51%      +1.3345     +1.3283
 Australian/Doll  AUD=        0.7173         0.7223      -0.69%         +2.18%      +0.7235     +0.7165
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0770         1.0762      +0.07%         -0.76%      +1.0772     +1.0746
 Euro/Sterling    EURGBP=     0.9193         0.9183      +0.11%         +8.75%      +0.9220     +0.9145
 NZ               NZD=        0.6635         0.6666      -0.47%         -1.50%      +0.6687     +0.6633
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        9.3513         9.2791      +0.78%         +6.53%      +9.3677     +9.2725
 Euro/Norway      EURNOK=     10.9460        10.9300     +0.15%         +11.26%     +10.9880    +10.9135
 Dollar/Sweden    SEK=        8.9039         8.8414      +0.09%         -4.74%      +8.9132     +8.8403
 Euro/Sweden      EURSEK=     10.4232        10.4134     +0.09%         -0.44%      +10.4300    +10.3845
 
 (Additional reporting by Gertrude Chavez-Dreyfuss in New York; Editing by Jonathan Oatis and Chris Reese)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up