The Plaza Accord was a meeting held in September 1985 at the Plaza Hotel, where the G7 countries agreed to intervene in FX markets to depreciate the US dollar, see chart below. We will not see a repeat of the Plaza Accord today for two reasons. First, the dollar is far from the levels of appreciation seen in the mid-1980s. Second, the economic outlook for Europe, the UK, Canada, and Australia is weak, and the rest of the G7 wants to continue to depreciate their exchange rates to boost their exports.
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