The USD/JPY pair trades on a flat note near a multi-decade highof around 161.75 during the early Asian trading hours on Thursday. The potential upside for the pair might be limited amid heavy speculation of imminent currency intervention from Japanese authorities.
Societe Generale’s Emerging Markets (EM) strategists say the Brazilian central bank, Banco Central do Brasil (BCB) minutes support an easing cycle with pauses to guide inflation back to 3% by 1Q28, leaving USD/BRL approaching its 200‑day moving average at 5.25.
Deutsche Bank strategists note that United States (US) equities experienced a classic risk-off session, with major indexes pressured by a sharp sell-off in chipmakers. The NASDAQ dropped more than the S&P 500 as semiconductor weakness dragged broader benchmarks lower.