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“The US central bank is working to address the market problems as they become apparent,” Richmond Fed President Thomas Barkin said on Thursday. “The Fed is focused on ensuring liquidity and market function.”

“Priority should be testing at scale so protocols can be put in place for people to safely return to work, businesses to reopen,” Barkin added. “Programs like term auction facility still on the table, but it’s important to note that unlike previous crisis bank liquidity has not been the problem.”

Market reaction

The US Dollar Index largely ignored these comments and was last seen adding 0.9% on the day at 101.80.