Central banks cut dollar offers in sign of market confidence

LONDON - Major central banks in Europe and Asia will pare back their offers of dollars to lenders in a sign of confidence that market tensions caused by the pandemic are easing even if the economic pain persists.

European banks took US$130 billion in a subsequent offering in what was then the biggest use of the swap lines since the global financial crisis. "That is also visible in the take-ups of the recent dollar operations, so it's healthy sign compared to the stress we've seen."

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