Fed Says US Monetary Authorities Did Not Intervene In FX Markets In Q4

The US monetary authorities did not intervene in the foreign exchange markets during the October December quarter, the Federal Reserve Bank of New York says in its quarterly report to the US Congress. During the three months that ended 31

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The US monetary authorities did not intervene in the foreign exchange markets during the October-December quarter, the Federal Reserve Bank of New York says in its quarterly report to the US Congress.

During the three months that ended 31 December 2008, the dollar appreciated 0.9% against the euro and depreciated 14.6% against the yen. In this period, the dollar’s trade-weighted exchange value appreciated 4.3% as measured by the Federal Reserve Board’s major currencies index.

The report was presented by Patricia Mosser, senior vice president of the Federal Reserve Bank of New York and the acting manager for the System Open Market Account, on behalf of the Treasury and the Federal Reserve System.

D.C.

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