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BRIEFLY

The Fed interevened against the dollar last week.

March 09, 1985

In a highly unusual move, a Federal Reserve Bank of New York official said the U.S. government intervened against the soaring dollar in coordination with the central banks of other countries. The New York Fed, the currency trader for the U.S. Treasury, generaly only discusses intervention in the currency markets weeks after it has occurred, usually in quarterly reports.

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