Monetary Policy Report submitted to the Congress on February 27, 2008, pursuant to section 2B of the Federal Reserve Act
Figure of U.S. dollar exchange rate against selected major currencies, 2004-08. Data are plotted as four curves and are expressed as indexes (the week ending January 9, 2004 = 100). All series begin at 100. The exchange rate index for the Japanese yen rises to about 107 by mid-2004, declines to about 96 by late 2004, rises gradually to about 117 by mid-2007, and then declines to about 100 by the end of the period. The exchange rate index for the euro rises to about 108 by mid-2004, declines to about 96 by early 2005, rises to about 109 by late 2005, and then declines gradually to about 86 by the end of the period. The exchange rate index for the U.K. pound declines to about 94 by the end of 2004, rises to about 106 by late 2005, declines gradually to about 88 by late 2007, and then rises to about 93 by the end of the period. The exchange rate index for the Canadian dollar rises to about 108 by mid-2004, declines gradually to about 72 by late 2007, and then rises to nearly 80 by the end of the period.
Note: The data, which are in foreign currency units per dollar, are weekly. The last observation for each series is the average for February 18 through February 21, 2008.
Source: Bloomberg.