The coronavirus crisis prompted investors to rush for US dollars, with the greenback skyrocketing against a basket of major currencies by nearly 9% over the past ten days in the aftermath. To ease the panic and avoid currency shortages in the banking sector, the Federal Reserve decided to enhance its latest stimulus package by increasing dollar supply in overseas markets through its swap line operations. Yet, whether such an action will bring calm to nervous investors remains a question. How do FX swap lines function? FX swap [..]
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