Analysts at Goldman Sachs Group Inc. in London believe that Japan’s currency intervention will turn out to be successful.

According to the specialists, the efforts of Japanese monetary authorities will drive yen’s down to 90 yen per dollar in a year. There is still the risk that Japanese currency will be strengthening during the next half of the year to the record maximum at 79 yen versus the greenback under the influence of US monetary easing, Japanese trade surpluses and the market’s testing the authorities’ resolve to intervene. As a result, Japan may have to sell more yens in order to prevent national currency from excessive gains that affect the country’s economy.

There are different estimates for Japan’s intervention – from $1.2 billion by the Nikkei newspaper to $20 billion from BNP Paribas SA’s point of view.

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