The dollar continued on its decline through most of the trading day yesterday, but fell off a cliff in very early European trading. A coordinated central bank action to lower swap rates was the reason for the dramatic moves in the currencies this morning. The FED, ECB, BOJ, SNB, BOC, and BOE all agreed to [...] Central Banks Pump Dollar Liquidity into the Markets originally appeared in the Daily Reckoning . The Daily Reckoning provides over 400,000 readers economic news, market analysis, and contrarian investment ideas.