Japan and the United States have jointly intervened in the yen, causing the currency to strengthen rapidly and break below short- and medium-term moving averages to the 157 yen per dollar zone. This could risk accelerating the unwinding of yen carry trades and impact risk assets globally. Investors need to monitor statements from Japan's finance minister this week to assess the direction of currency policy. Meanwhile, Thai experts assess that the short-term impact on the Thai stock market remains limited, based on the baht strengthening slightly to 33.35 baht per dollar, and they place more weight on the factor of easing tensions. However, if the yen continues to strengthen and breaks below the key technical level of 157 yen per dollar, the risk of a sell-off in global risk assets, including Thai stocks, especially large-cap stocks heavily held by foreign investors such as banking, energy, and stocks in the SET50 index, will increase.