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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Tommaso who wrote (50765)5/8/2006 2:50:05 PM
From: regli  Read Replies (1) of 116555
 
That's a very good point. Though the U.S. foreign exchange reserves likely are not large at this point,

ny.frb.org
"At the end of 1999, the Federal Reserve held $16,140 million in euros and yen"

I wouldn't be surprised if the U.S. were increasing its foreign exchange reserves at this time for just such an event. I don't think the Fed or the Treasury want to be left with a single tool, announcing higher interest rates, in case of a quick and significant fall in the dollar.
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