* Fed extends overnight repo facility to foreign central banks
* Dollar pares gains after latest Fed measure
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(Adds new comment, FX table, updates prices, changes byline, dateline; previous LONDON)
By Gertrude Chavez-Dreyfuss
NEW YORK, March 31 (Reuters) - The dollar climbed against major currencies on Tuesday amid quarterly
and fiscal year-end demand from portfolio managers and Japanese firms.
Analysts said the steep fall in U.S. equity markets during the month of March led to increased buying
of dollars for asset managers seeking to rebalance their portfolios at the end of the month.
The U.S. currency did pare gains after the Federal Reserve broadened the ability of dozens of foreign
central banks to access dollars during the coronavirus crisis by allowing them to exchange their holdings
of U.S. Treasury securities for overnight dollar loans. But analysts said the dollar is likely to remain supported as investors brace for a sharp economic
downturn in the coming quarters.
"The Fed's efforts so far are the closest thing to taming the dollar's strength," said Joe Manimbo,
senior market analyst at Western Union Business Solutions in Washington.
"But the desire to hold dollars remains elevated ahead of what's expected to be a punishing second
quarter for U.S. and global growth," he added.
In mid-morning trading, the dollar index =USD was up 0.5% at 99.712.
It reached 102.99, its highest in more than three years, earlier this month as a global market
sell-off fueled a rush for dollars. Dollar demand has ebbed, but analysts are still forecasting more
dollar gains.
Against the yen, the dollar rose 0.5% to 108.31 yen JPY=EBS on Tuesday.
Tuesday is the last trading day of Japan's fiscal year and the end of the quarter for major investors
elsewhere, which has fueled some volatility as big currency market players close their books. The bulk of
those positioning changes caused the dollar to strengthen.
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Currency bid prices at 10:15AM (1415 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Euro/Dollar EUR= $1.0962 $1.1046 -0.76% -2.21% +1.1054 +1.0927
Dollar/Yen JPY= 108.1100 107.8100 +0.28% -0.69% +108.7200 +107.7500
Euro/Yen EURJPY= 118.54 119.07 -0.45% -2.80% +119.7000 +118.4700
Dollar/Swiss CHF= 0.9637 0.9583 +0.56% -0.44% +0.9676 +0.9581
Sterling/Dollar GBP= 1.2433 1.2416 +0.14% -6.23% +1.2440 +1.2253
Dollar/Canadian CAD= 1.4265 1.4169 +0.68% +9.85% +1.4348 +1.4154
Australian/Doll AUD= 0.6111 0.6172 -0.99% -12.96% +0.6213 +0.6080
ar
Euro/Swiss EURCHF= 1.0564 1.0585 -0.20% -2.65% +1.0598 +1.0565
Euro/Sterling EURGBP= 0.8814 0.8886 -0.81% +4.26% +0.8968 +0.8814
NZ NZD= 0.5955 0.6013 -0.96% -11.59% +0.6037 +0.5929
Dollar/Dollar
Dollar/Norway NOK= 10.5043 10.5474 -0.41% +19.66% +10.6075 +10.4039
Euro/Norway EURNOK= 11.5170 11.6400 -1.06% +17.07% +11.6690 +11.4250
Dollar/Sweden SEK= 10.0383 10.0059 -0.45% +7.39% +10.1327 +10.0038
Euro/Sweden EURSEK= 11.0055 11.0558 -0.45% +5.12% +11.1043 +10.9850
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FX quarterly IMAGE https://reut.rs/2WRMbZE
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