Fed Makes Its Biggest-Ever Single-Day FX Intervention
REGULATIONS
The Federal Reserve Bank has disclosed details of its largest single-day intervention yet in the foreign exchange markets -- purchases of $1.56 billion on June 24 through the sale of Deutsche marks and yen on its own behalf and that of the U.S. Treasury. In a similar exercise, the Fed also bought $1.25 billion by selling marks and yen on May 4, says senior vice president and manager for the Fed's foreign operations Peter Fisher.
Of the May 4 total, $750 million was against the mark and $500
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