New York Fed Reports Sharp Decline in Reverse Repo Usage

Forex - The New York Fed announced that the usage of the reverse repo facility declined on the first day of the year. The New York Fed stated that money market funds and other eligible firms parked $239.9 billion in the overnight reverse repo facility, a drop from the six-month high of $473.5 billion observed on Tuesday. The decrease in Tuesday's reverse repo usage was expected due to temporary year-end factors.