[Nomura Securities: The U.S. Dollar Expected to Remain Relatively Stable in 2026] According to a report by Jinse Finance, Craig Chan, Global Head of FX Strategy at Nomura Securities, stated at a media briefing on Thursday that the U.S. dollar is expected to remain relatively stable in 2026, although this forecast carries significant downside risks. He noted that despite the strong rallies in the S&P 500 and Nasdaq indices, foreign capital inflows into the U.S. market are declining, which increases the risk of inflows dropping to zero or even turning negative. Chan added that selling the dollar and hedging could become a powerful trading force, estimating that if Japan alone increases its hedging ratio by 10%, it could translate into approximately $140 billion in dollar selling. He believes other key risks to watch in 2026 include the Supreme Court's ruling on Trump-era tariffs, the Federal Reserve's independence, and the ongoing impeachment case against Cook. (Jin10)