Thirty years after the implementation of the dollar-weakening Plaza Accord, the purpose of joint currency interventions has shifted significantly as enormous global markets have become increasingly resistant to coordinated sovereign influences.

The historic 1985 deal between Britain, France, Japan, West Germany and the United States brought a sharp depreciation of the dollar against the yen and other currencies.

But as market size has expanded rapidly since 2000, joint interventions have had limited impact and have become a means to soothe market turmoil at times of crises.