U.S. Monetary Authorities Did Not Intervene In FX Markets During The First Quarter

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Press Release

U.S. Monetary Authorities Did Not Intervene In FX Markets During The First Quarter

May 8, 2014

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, 2014, the dollar appreciated 4.0 percent against the Canadian dollar, depreciated 0.6 percent against the British pound and 2.0 percent against the Japanese yen, and was unchanged against the euro. In this period, the dollar’s nominal trade-weighted exchange value increased 0.6 percent as measured by the Federal Reserve Board’s major currencies index.

The report was presented by Simon Potter, 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.

Full Report pdf
11 pages / 305 kb
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