–Comment Follows Revelation BOJ Intervened Covertly In FX Late 2011
FRANKFURT (MNI) – Foreign exchange market interventions should be
done on a multilateral basis and not unilaterally, European Central Bank
President Mario Draghi said Thursday.
Asked at his monthly press conference about the release of Bank of
Japan data which showed that the bank conducted covert intervention
operations late last year to weaken the yen, Draghi said:
“The intervention ought to be a sign that if they are needed, they
should be done in a multilateral framework. They should not be
unilateral.”
–London newsroom: 0044-207-862-7492: email: ukeditorial@marketnews.com
[TOPICS: M$$EC$,M$X$$$,M$$FX$,M$J$$$]