US FX market free from official intervention in second quarter

US monetary authorities did not intervene in the foreign exchange markets during the April—June quarter, the Federal Reserve Bank of New York said in its quarterly report to the US Congress.

During the three months that ended June 30, 2010, the dollar appreciated 10.4 percent against the euro but depreciated 5.4 percent against the Japanese yen. In this period, the dollar’s trade-weighted exchange value appreciated 3.6 percent as measured by the Federal Reserve Board’s major currencies index.

You can download the Report HERE.