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The Federal Reserve could reinstate its commercial paper funding facility, which was last used during the 2007-2009 financial crisis, to provide liquidity, Reuters reported on Tuesday, citing two sources with knowledge of the matter.

According to the sources, the announcement on the relaunch of the Commercial Paper Funding Facility (CPFF) could be made as early as Tuesday.

USD reaction

The US Dollar Index edged lower slightly on this headline and was last seen at 99.40, still up around 1.4% on the day.