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```htmlAccording to Golden Ten Data on June 18, strategists from OCBC Group Research said that, against the backdrop of the Federal Reserve maintaining a hawkish stance, the short-term upside for Asian currencies against the US dollar may be limited, especially for low-yielding currencies and those more sensitive to US Treasury movements, including the Thai baht, Korean won, and to some extent, the Singapore dollar. However, they added that falling oil prices remain a significant offsetting factor, easing current account and inflationary pressures for oil-importing currencies such as the Indian rupee, Philippine peso, and Indonesian rupiah.```

Golden Ten Data, June 18 — Biogen announced it has reached an agreement to acquire private biotechnology company RayThera for up to $1 billion, as the pharmaceutical company seeks to expand its immunology research and development pipeline. According to the statement, the deal will include an upfront payment to RayThera shareholders as well as additional milestone payments tied to clinical and regulatory progress. RayThera, headquartered in San Diego, has multiple anti-inflammatory drug candidates, with its lead project expected to enter phase I clinical trials in early Q3 2026. This deal comes amid a wave of biotechnology mergers and acquisitions, as major pharmaceutical giants invest heavily this year to expand their product pipelines.

(1) SMBC Nikko Securities strategist Ataru Okumura stated that if inflation prompts the Federal Reserve to raise interest rates, it could increase tightening pressure on the Bank of Japan. (2) Since the significant interest rate gap with the United States has long been a core driver of yen weakness, any new round of global tightening could expose the Bank of Japan's risk of being relatively slow to raise rates. (3) Although concerns about Japanese government intervention may prevent the USD/JPY from significantly exceeding 160, investors are skeptical about the sustainability of intervention measures, so the Bank of Japan may be forced to raise rates at a slightly faster pace.