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Citi Believes BOJ Will Intervene At USDJPY 76
With everyone and their mother now expecting the BOJ to do absolutely nothing courtesy of Noda's now hourly announcements that he is watching the JPY like a hawk, or simply a confirmation that the Japanese central bank is as toothless as the SNB (EURCHF at 1.0952 at last check) to do much if anything, here is Citi's Osamu Takashima, who writes that the BOJ will intervene at a level of 76 on the USDJPY or about 9500 on the Nikkei. Bloomberg All News summarizes the highlights of his note. Possibility of BOJ intervention is much higher if Nikkei and USD/JPY falls to 9,500 and 76, respectively Last 2 BOJ interventions in ... (full story)