Citigroup, UBS about the potential intervention in Japan

The pair USD/JPY is trading at the lower border of the large “triangle”. Last week US dollar eased down to 81.60.

The greenback is still very weak and investors once again began speculating about the potential Japan’s currency intervention. Analysts at Citigroup and UBS think that the level watched by the country’s authorities is situated at 80 yen. On March 18 G7 nations intervened selling yen at 78.83 yen that helped to push dollar higher to 82 yen.

According to the specialists, some other countries such as Canada and Australia are also worried about the appreciation of their national currencies expressing dissatisfaction with US monetary policy. Some economists think that the maximal acceptable EUR/USD rate for the euro area is situated at $1.50.

Chart. Daily USD / JPY