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ECB extends dollar liquidity promise, scraps FX swaps

The European Central Bank said on Friday it would carry on lending euro zone banks US dollar liquidity but had decided to scrap the FX swaps which it had been holding in parallel.

The ECB said it would continue providing US dollars at terms of 7, 28 and 84 days and would continue its guarantee to give banks as much money as they ask for.

It added it had scrapped the FX Swaps due to a lack of demand but would start them up again in future if necessary. (Reuters)