Goldman Sachs: Japan’s intervention will be a success

Goldman Sachs: Japan’s intervention will be a success

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.

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.

UPDATE: September 16, 2010 04:17 ET (08:17 GMT)

http://www.intermoney.org