Alan Ruskin - currency strategist at Deutsche Bank (DE: DBKGn), considered: "If the British referendum will lead to a drop in the dollar/yen below 100.00, the most likely scenario reaction of the Japanese financial authorities will be currency intervention. Japan will intervene under the guise of Brexit, having received in this case compelling arguments in the form of emergency and dramatic tightening of conditions which reflect the international volatility, not the internal situation. The Bank of England is also unlikely to be "waiting" if the pound against the dollar will fall below 1.30 and will continue to decline, the Bank of England will have a reason for the currency intervention and the ECB and the Fed is likely in a sign of solidarity may accede to it."
The probability of ECB intervention is low, because the eurozone is unlikely in the case of Brexit become the epicenter of the movement of assets.
And the Fed could to intervene only in the event of a significant tightening of financial conditions in the United States, which is also not expected.
