The Fed reported foreign exchange transactions.

The United States and 10 allies sold about $10.2 billion on foreign exchange markets in the six weeks following a Sept. 22 agreement by the major industrialized nations to drive down the value of the dollar, the Federal Reserve Bank of New York reported. The Fed sold nearly $3.2 billion of the total to buy West German marks and Japanese yen, making it the largest U.S. currency intervention since 1980, the Fed said. The intervention was outlined in a report covering foreign exchange operations by the Fed and the U.S. Treasury for the three months ended Oct. 31.