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Fed opens currency-swap lines
with more central banks
To relieve a shortage of U.S. dollars in the global market, the
Federal Reserve opened currency-swap lines with central banks in
Denmark, Norway, Sweden and Australia. The Fed will send $30
billion into the worldwide financial system through the swap
lines. Last week, the Fed expanded swap lines with central banks
in Europe and created facilities with central banks in the U.K.,
Japan and Canada. "This is another weapon in the arsenal of
governments aimed at boosting confidence," said Joshua
Williamson of TD Securities in Australia. |
