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Stabilize this

Early morning, March 18, 2011, after a hastily assembled telephone conference the G7’s Finance Ministers decided on a coordinated move to stabilize the course of USD/JPY. A joint intervention was implemented by the BoJ, the U.S. Fed, BoC, BoE, and the ECB. The USD/JPY fall that forced the largest regulators to intervene in the market was triggered by the repatriation of capital and Nikkei-225 collapse.

However, this collective action was not the only one for USD/JPY: in April 1995 after a sharp decline of the U.S. dollar the central banks of Germany, France, Great Britain, Italy, the Netherlands, and Belgium were trying to rescue the currency pair as well.

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