September 16, 2010

Goldman Sachs: Japan’s intervention will be a success

Filed under: Uncategorized — bigcapital @ 4:24 pm
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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)


September 15, 2010

George Soros agree on Japanese Intervention

Filed under: Uncategorized — bigcapital @ 10:41 pm
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Soros Applauds Japan Intervention to Weaken Yen

Billionaire financier George Soros said on Wednesday that Japan was right to intervene in foreign exchange markets to bring down the value of the yen.

“Certainly, they are hurting because the currency is too strong so I think they are right to intervene. They had a real estate boom and then a crash in banking … It’s 20 years now, and they are still just struggling along.” Soros said at a Reuters Newsmaker event.

Japan sold yen in the market on Wednesday for the first time since 2004 and said it would do so again to prevent the currency’s rise from hurting exporters and threatening a fragile economic recovery.

Billionaire financier George Soros spoke at a Reuters Newsmaker event on Wednesday.


UPDATE: September 15, 2010 10:40 ET (14:40 GMT)

Citigroup: Is USD/JPY A ‘Buy On Dips’ Now ? the bank says

Filed under: Uncategorized — bigcapital @ 5:24 pm
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Citigroup: Is USD/JPY A ‘Buy On Dips’ Now ? the bank says

Will US reaction to the BOJ intervention dictate its success?
Citigroup reckons that investors may be overestimating external political concern, especially compared to the trade problems created by the CNY.

“If US authorities simply continue to decline to comment, this is implicitly turning a blind eye to the Japanese action and could serve to disappoint those looking for stronger opposition,” the bank says, suggesting that the intervention may well prove more successful than expected.

The bank recommends “maintaining short JPY positions and dips in USD/JPY associated with lulls in intervention could be opportunities to further build longs. – Market Talk

Wednesday. September 15, 2010

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