Fed refrains from intervening in Q1, but valuations push reserves up

Despite no intervention from the Fed, US FX reserves rose on the back of a weakening US dollar

Federal Reserve
Fed reserves inch higher as dollar retreats against peers in Q1

The Federal Reserve Board did not intervene in the foreign exchange market during the first quarter of 2016, despite currency reserves increasing by $1.7 billion to $41.5 billion, a report published by the Federal Reserve Bank of New York reveals.

The rise in US FX reserves is the result of a weakening dollar during the first three months of the year, which saw the unit depreciate against all major and emerging market currencies over the course of the quarter on a net basis. Overall, the Fed's

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