Euro sharpens decline to six-week trough

Euro fell on Tuesday for the third session against dollar, marking six-week lows on concerns of low dollar liquidity amid a massive global stock selloff. 

EUR/USD fell 0.4% to 1.1720, the lowest since August 12, after closing down 0.6% yesterday, the largest loss since August 19. 

The dollar index rose 0.4% on Tuesday for the third session, marking 1-1/5 month highs at 93.89. 

Concerns over the global economy are surging anew as Covid infections rise back in the US and Europe, in turning hurting the dollar's appeal as a safe haven.

A delay in US fiscal and monetary stimulus also hurt global stocks and hammered many other assets in commodities and metals as investors seek to ensure liquidity.