Nikkei: Japan's Renesas in talks to buy US chipmaker Intersil

Another catalyst potentially fuelling the pop higher in USD/JPY this morning was a piece from Nikkei, noting that Japan's Renesas is in talks to buy US chipmaker Intersil.

Expectations of upcoming M&A flows does sometimes play a psychological role to disccount it from a market valuation as soon as the information is made available.

According to Nikkei: "Renesas Electronics is in the final stages of negotiations to acquire Intersil, an American chipmaker strong in products offering power-saving solutions. The major Japanese chipmaker is expected to spend up to 300 billion yen ($3 billion) on the deal. A basic agreement could be reached as early as this month."