PIPS
PIPS
The Federal Reserve Bank of New York has confirmed that US monetary authorities intervened in the foreign exchange markets on June 17, selling a total of $833 million to support the Japanese yen. The amount was split evenly between the Federal Reserve System and the US Treasury's Exchange Stabilization Fund (ESF). The intervention was carried out by the New York Fed, operating in coordination with the Japanese monetary authorities. The Fed also reports that at the end of June, the Fed and the
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