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.

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