Central banks pledge more dollars

Central banks around the world unveiled a fresh round of dollar auctions on Tuesday, aimed at tiding the banking system over the year-end period when money-market tensions tend to heighten.

The Fed will offer up to $450 billion in three 28-day term auctions, injecting up to $150 billion in each Term Auction Facility (TAF) operation. It will make a further $600 billion available in four three-month operations, again injecting up to $150 billion in each TAF operation. Two forward Term Auction F