US Monetary Authorities Report No Market Intervention In Q1

REGULATIONS

The US monetary authorities did not intervene in the foreign exchange markets for the second consecutive quarter, reports the Federal Reserve Bank of New York. The last intervention by the US authorities was in August 1995.

During the first quarter, the Fed reports the dollar appreciated 3.9 per cent against the Japanese yen and 3.0 per cent against the Deutsche mark, while gaining 2.1 per cent on a trade-weighted basis against the other G-10 currencies.

The report, which was presented to

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