Fed Intervenes Three Times Against Yen During May-Through-July Period
REGULATIONS
The Federal Reserve reports three instances of intervention on behalf of the dollar against the Japanese yen, in its first official disclosure of U.S. foreign exchange intervention for the May 1 through July 31 period.
The series of interventions, executed by the New York Fed's foreign exchange desk on behalf of the Fed and the U.S. Treasury, took place on May 27, May 28 and June 8. The combined activity amounted to a total purchase of $1.067 billion against the yen. The first buying spree by U.S
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