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Reserve Bank of Australia and US Federal Reserve Announce Swap Arrangement
The Reserve Bank of Australia and the Federal Reserve will establish a temporary reciprocal currency arrangement (swap line) for the provision of USdollar liquidity. The Federal Reserve will also establish temporary arrangements with the Banco Central do Brasil, the Danmarks Nationalbank, the Bank of Korea, the Banco de Mexico, the Norges Bank, the Reserve Bank of New Zealand, the Monetary Authority of Singapore and the Sveriges Riksbank. These arrangements are designed to help lessen strains in global USdollar funding markets. The Federal Reserve also has standing USdollar swap lines with the Bank of Canada, the ... (full story)
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FX Snapshot:#AUD and #NZD rise
— Daniel Dubrovsky (@ddubrovskyFX) March 20, 2020
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Australia's ASX 200 rallying sharply#USD down as sentiment improves, lowering haven demand
Anti-risk #Yen also weaker
This follows the #RBA starting a govt. bond-buying program and creating a swap arrangement with the #Fed for USD liquidity pic.twitter.com/jKkCqb1bW8