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Currencies

Japanese banks gobble up half of Fed dollar funding

BOJ holds far more currency swaps than ECB, or Bank of England

Japan's banks have relied heavily on dollar injections provided via the central bank throughout the coronavirus outbreak. (Photo by Tsuyoshi Tamehiro)

TOKYO -- About half of dollar funding provided to global central banks by the U.S. Federal Reserve in response to pandemic-triggered liquidity concerns have gone to Japan, where banks are hungry for the greenback due to their expanding operations abroad.

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