The euro held firm against the Dollar and Yen in Asia over night after six major central banks moved to pump liquidity into the global financial system.
Yesterday the US Federal Reserve, the European Central Bank, and four other central banks around the world announced they would make cheaper US dollars available to liquidity-starved commercial banks.
It’s part of a concerted effort to avert a depression and further social unrest in the wake of the Eurozone crisis.
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