Fed Intervenes Twice In A Day In April, Buying $700 Million
REGULATIONS
U.S. monetary authorities intervened twice in the foreign exchange markets during the morning of April 29, purchasing $700 million by selling $500 million worth of Deutsche marks and $200 million worth of Japanese yen, according to the Federal Reserve Bank's most recent quarterly report to Congress. Peter Fisher, the Fed's manager of foreign operations, presented the report, which covers the February-through-April period.
The April 29 intervention, confirmed publicly by Treasury Secretary Lloyd
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