FRANKFURT (MNI) - The European Central Bank said Wednesday that it will launch a 6-day liquidity providing operation to ease pressures in the short-term U.S. dollar funding markets.

The operation is carried out at a fixed rate of 1.11% with the central bank planing to satisfy all bids received against eligible collateral. The minimum bid is $5 million. The Euro/USD rate is set at 1.5001.

Bids for today's operation are due by 8:45 GMT today. Tender results will be announced at 10:00 GMT.