Journal Article

The great foreign exchange intervention of 2011


Abstract: In response to volatile market conditions, the G-7 financial authorities announced late on March 17 that they would jointly intervene the next day to reduce the value of the yen, citing concerns about ?excess volatility and disorderly movements.? The yen immediately depreciated and traded with much less volatility in the subsequent week.

Keywords: Yen, Japanese; Foreign exchange;

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File(s): File format is application/pdf http://research.stlouisfed.org/publications/es/11/ES1123.pdf

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Economic Synopses

Publication Date: 2011

Order Number: 23