In swaps we trust? Disappearing dollars drive currency trading dependence
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LONDON (Reuters) - As dollars dry up, global finance is growing increasingly dependent on opaque currency trading to keep cash flowing.Banks and other short-term dollar borrowers are becoming ever more reliant on the $3.2 trillion-a-day foreign exchange swap market, data shows, leaving them dangerously exposed should U.S. lenders stop feeding the system, even if only temporarily.Swaps users had a scare in September, when the U.S. Federal Reserve had to pump cash into markets as rates in the $2.2..