Citi Warns of Euro-Yen Intervention Risk If Pair Nears 180
- Tokyo may sell the greenback again if dollar-yen nears 165
- Bank of Japan conducted rate check on euro-yen this month
The euro-yen has climbed about 30 yen per euro since September 2022.
Photographer: Tomohiro Ohsumi/Bloomberg
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Japanese authorities might step into the market and sell the European common currency if euro-yen nears the 180 level, according to analysts at Citigroup Inc.
Euro-yen traded as high as 175.43 on July 11 — a record since the common currency was launched in 1999 — before retreating. The pair fell as much as 1% on Tuesday to 169.27 in New York, the lowest in more than a month.