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The EC may intervene in the currency markets.

September 22, 1986

European Communities central bankers agreed on joint intervention in currency markets starting today in a bid to halt the slide of the dollar against the mark, a senior EC official said. The bankers met during informal discussions in Gleneagles, Scotland, where EC finance ministers agreed over the weekend to urge the United States to cooperate in efforts to stabilize the dollar. The senior official, who declined to be named, said European central bankers had decided on a common strategy that would have an impact on currency markets when they opened today.

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