The Fed starts a new program to provide dollars to central banks and calm the $5 trillion currency market

Spencer Platt/Getty Images The Federal Reserve announced Tuesday the opening of a new repurchase agreement, or repo, facility aimed at supplying foreign central banks with US dollars. The pool will allow monetary authorities abroad to swap US government bonds for dollars. Global demand for the US currency has soared as the coronavirus drives investors to stable assets and forces firms to shore up cash. The Fed's facility "should help support the smooth functioning of the US Treasury market," the...