The Central Banks Are Back And Just In Time Dollar Purchases Help Lift Volume In February
REGULATIONS
The central banks are back in the foreign exchange intervention business and not a minute too soon, participants say. Although the amount spent to keep the dollar from falling has been relatively modest, the central banks' almost daily appearance has helped revive volume and redefine direction.
Central bank intervention "does stimulate some activity certainly," says Michael Paulus, a trader at First Chicago and a former foreign exchange trading officer at the Federal Reserve Bank of New York
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