Example SNB may be contagious

While the Japanese currency in recent years has somewhat stabilized, it still remains near the long-term highs and the upward trend remains in effect, that despite the worsening situation in Europe and all the more troubling world economic outlook is definitely cause for concern to Japanese official individuals. Currency strategists at Standard Chartered say that such can take the example of the SNB, and statements by the Minister of Finance of Japan that he would ask G7 (meeting held today) understand the concern of the authorities 'excessive' to strengthen the yen, the only confirmed these fears. At Standard Chartered believe that the risks of increased intervention and see the potential for growth in the dollar / yen to Y79 and Y81 with subsequent correction below.