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Fed Buys Euros

NPR

Published September 21, 2000 at 9:00 PM PDT

NPR's John Ydstie reports the U.S. joined the central banks of Europe, Japan, England and Canada in a coordinated effort to stop the slide of the Euro. The intervention in the foreign exchange markets seemed to work, at least for now. The Euro climbed as high as 90 cents, but then fell back a bit later in the day.