U.S. Monetary Authorities Intervene Three Times During Second Quarter
REGULATIONS
U.S. monetary authorities intervened in the foreign exchange markets three times during the second quarter, spending a total of $3.6 billion buying dollars against the Japanese yen and Deutsche mark, Federal Reserve Bank of New York officials announced in the quarterly report on Treasury and Fed FX operations.
During the April through June period, the dollar rose 0.6 per cent against the mark, but fell 2.1 per cent against the yen and 0.3 per cent on a trade-weighted basis, reports the Fed. Peter
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