Le blog de Gerry le boursicoteur

The U.S. monetary authorities intervened in the foreign exchange markets to prop up the U.S. dollar against the Japanese yen, buying up $1 billion in greenbacks, on March 18, the Federal Reserve Bank of New York said Friday in its quarterly report to the Congress. The action was part of a coordinated G-7 intervention and was carried out in conjunction with officials from Japan, the European Union, Canada and the United Kingdom. During the first quarter, the U.S. dollar depreciated 5.5% against the euro but rose 2.5% against the yen.