1825-1906: US begins market operations to maintain the gold standard.
1924-1931: US engages in number of market operations, including buying foreign currencies, to maintain the gold standard.
1934-1961: US Treasury creates the Exchange Stabilization Fund (ESF), conducts frequent operations directly in foreign exchange markets.
1971: Nixon Administration ends USD convertibility to gold, which had become unsustainable due to the large supply of dollars outstanding relative to gold reserves.
1973: US conducts intervention against German mark.
1974: US conducts intervention against Japanese yen.
1976: The USD officially becomes: fiat currency.
1977-1979: Very easy monetary policy weakens the USD. US intervenes often to support USD.
1979: Fed announces change in its open market procedures to combat inflation and, partly, to support a weakening USD.
1980-1981: US intervenes to tame strengthened dollar.
1985: Major economies agree in the Plaza Accord to devalue the USD relative to the JPY and DEM. In the following weeks, US intervenes often, selling dollars for other G5 currencies.
1987: Major economies sign Louvre Accord to halt USD depreciation. In coordinated interventions, US intervenes often to buy USD.
1988 - 1990: US intervenes repeatedly after G7 statement on importance of maintaing exchange rate stability.
1990: USD appreciates on a backdrop of solid economic growth and dormant inflation.
1991-1992: US and European central banks intervene often against the backdrop of a US recession and weakening USD.
1993: US intervenes to buy dollars and sell yen.
1994: Fed unexpectedly starts rate hiking cycle on an improving economy following the recession. US intervenes repeatedly to support the USD.
1998: US intervenes to purchase yen in a coordinated intervention to support Japan's economy following the Asian financial crisis.
2000: Dot-com bubble bursts. leading to recession.
2000: Coordinated G7 FX intervention to support the Euro, initiated by the ECB.
2001: 9/11 attacks increase overall uncertainty. Fed lowers rates to prop up the economy.
2002: Japan intervenes, selling yen for dollars, often supported by the Fed and ECB.
2004-2006: Fed tightens policy to curb inflation.
2008: Global Financial Crisis ushers in an era of exceptionally easy monetary policy in the US, much of the developed world, and some EMs. Flight to safety strengthens the USD.
2010: Euro sovereign debt crisis unfolds.
2011: US. UK and European central banks sell yen in a coordinated intervention following a sharp rise In FX volatility as a result of an earthquake in Japan.
2011: Standard & Poor's downgrades US sovereign debt; flight to safety nevertheless boosts USD in the months that follow.
2014: USD begins to rally on the back of stronger growth relative to other major economies and divergence in DM monetary policy.
2015: Fed begins raising rates.
2015: China surprises global financial markets by devaluing the renminbi for three consecutive days.
2017-2018: USD depreciates on the back of convergence in global growth, President Trump's sentiments for a weaker Dollar, and strength in other major currencies, particularly the euro.
2018-2019: USD rallies on tax reform and Fed's continuing tightening cycle.