NEW YORK (MNI) – This is the following is the statement released
Thursday by the Federal Reserve Bank of New York:
The U.S. monetary authorities did not intervene in the foreign
exchange markets during the January – March quarter, the Federal Reserve
Bank of New York said today in its quarterly report to the U.S.
Congress.
During the three months that ended March 31, 2010, the dollar
appreciated 6.1 percent against the euro and 0.5 percent against the
yen. In this period, the dollar’s trade-weighted exchange value
appreciated 1.8 percent as measured by the Federal Reserve Board’s major
currencies index.
The report was presented by Brian P. Sack, executive vice president
of the Federal Reserve Bank of New York and the Federal Open Market
Committee’s manager for the System Open Market Account, on behalf of the
Treasury and the Federal Reserve System.
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[TOPICS: M$$FX$,M$U$$$,MMUFE$,MGU$$$]
