Citi Warns of Potential Yen Intervention at 160 Per Dollar

Citi analysts believe that the Japanese Ministry of Finance may intervene in the foreign exchange market if the yen weakens to around 160 per dollar against the US dollar.

This prediction is based on previous interventions, where rate checks were implemented after the Bank of Japan meeting. However, during those instances, the yen was stronger than it is currently.

Citi notes that the Ministry may aim to push the exchange rate down to around 150 per dollar.