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(Update) Japan Conducts Forex Intervention via Fed.
(From Jiji)
Tokyo, Sept. 30 (Jiji Press)--Japanese monetary authorities conducted yen-weakening market intervention in New York Tuesday through the Federal Reserve Bank of New York, a Ministry of Finance source said.
The market intervention appeared to have been conducted at around 110.30 yen, a market source said. The ministry source did not disclose the intervention amount.
The dollar jumped later to stand at 111.60-70 yen in New York at 11 a.m.
The intervention by the New York Fed on behalf of the Japanese authorities was the first since June 28, 2002.
U.S. monetary authorities apparently …
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