	currency futures climb likely to be checked the surge in currency futures since friday on the heels of the reagan administration s proposed tariffs on japanese imports is likely to be curtailed in the coming week financial analysts said the market is taking a breather now and i would expect it to last a little longer said craig sloane a currency analyst with smith barney harris upham and co profit taking which robbed the currency futures of some momentum today is likely to continue he said central banks are likely to play a role in halting the advance in currencies through intervention the analysts said even though the dollar fell to a year low against the japanese yen on monday despite bank of japan intervention treasury secretary james baker s comments that the g nations remain committed to the paris accord coupled with his refusal to give any targets for exchange rates provided a note of stability to the market tuesday the analysts said furthermore merrill lynch economics analyst david horner said g central banks haven t yet shown the full force of their commitment to the paris accord i m among those who believe the g have a plan behind the scenes horner said horner said more forceful central bank intervention will firm the dollar and cap the rise in currency futures coordinated punishing intervention by the central banks in contrast to the recent rolling intervention which has only smoothed out the market is in the offing according to horner i think we re near the top of the range in the europeans currencies he said on the other hand the upside target for the yen which set a new contract high today at in the june contract is at horner said still other analysts believe currency futures have yet to peak the basic trend in the currencies is higher said anne parker mills currency analyst with shearson lehman brothers inc the market wants to take the dollar lower uncertainty over central bank action and nervousness over a g meeting next week in advance of a meeting of the international monetary fund could make for choppy price activity the remainder of the week mills said in addition although the market shrugged off relatively healthy gains in february u s leading economic indicators and factory orders tuesday economic data could play a larger role in coming sessions the analysts said friday s employment statistics in particular will be closely watched sloane said adding that a forecast rise of in non farm payroll jobs should underpin the dollar reuter 
