Problem
The Foreign Exchange Review of the First Wachovia Bank reported on its March 12, 1990, issue: "Despite repeated central bank intervention last week, the US dollar rallied to highs of 1.7095 marks, 151.35 yen, and $1.6155/pound". Were the central banks buying or selling dollars? Illustrate with an FX market diagram.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.