New York Fed's Foreign Exchange Operations Report

According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for April-June 2006, published 3 August, the U.S. monetary authorities did not intervene in the foreign exchange markets during the April-June quarter.

During the three months that ended June 30, 2006, the dollar depreciated 5.5 percent against the euro and 2.9 percent against the yen. In this period, the dollar's trade-weighted exchange value decreased 4.5 percent as

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