New York Fed Intervenes In Currency Markets
- Thread starter PocketChange
- Start date
Fade this bullshit intervention into the free markets. I don't care how many central banks are involved. Fade them into irrelevancy.
Isn't the decision to intervene made by the Treasury secretary? NYFed just executes...
You need to look at the Nikkei too.. Hit a few limit down circuit breakers which might have contributed to the currency play.
Quote from blnbr:
Looks like the big bank hunted massive amount of sell stops and pushed the price to a new all-time low before they "intervene"
Quote from southbeach4me:
Good to know there are at least a few in here that have some brains and common sense.
If you read through, is not that clear cut:
INTERNATIONAL OPERATIONS
The New York Fed, representing the Federal Reserve System and the U.S. Treasury, also is responsible for intervening in foreign exchange markets to achieve dollar exchange rate policy objectives and to counter disorderly conditions in foreign exchange markets. Such transactions are made in close coordination with the U.S. Treasury and Board of Governors, and most often are coordinated with the foreign exchange operations of other central banks. Dollars are sold in exchange for foreign currency if the goal is to counter upward pressure on the dollar. If the objective is to counter downward pressure, dollars are purchased through the sale of foreign currency.
I don't see any upward or downward pressure on the dollar. Why does the fed care about the yen?
lol exactly. The topic should be changed to "life isn't fair"