NEW YORK (MNI) – The following is a statement released by the
Federal Reserve Bank of New York Thursday as part of its quarterly
report to Congress:
The U.S. monetary authorities did not intervene in the foreign
exchange markets during the April-June 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 June 30, 2010, the dollar
appreciated 10.4% against the euro but depreciated 5.4% against the
Japanese yen. In this period, the dollar’s trade-weighted exchange value
appreciated 3.6% 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.
** Market News International New York Newsroom: 212-669-6430 **
[TOPICS: M$$FX$,M$U$$$,MI$$$$,MGU$$$,MMUFE$]
