Fed Intervened Twice In November To Support Dollar Against Mark,Yen


U.S. monetary authorities intervened in the foreign exchange markets on two consecutive days in early November to support the dollar, buying a total of $2.6 billion through the sale of marks and Japanese yen, Federal Reserve Bank of New York officials say. These were the only foreign exchange market interventions on the part of the Fed and Treasury during the fourth quarter.

Both the Fed and Treasury, together with the Mexican government, 'activated' their pre-existing $6 billion swap lines to

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