Rabobank pointed out that the yen has recently strengthened sharply without official intervention, indicating that the market may reflect changes in Japan's fundamentals. Senior foreign exchange strategist Jane Foley wrote in the report that signs of domestic inflation based on actual wage data are more obvious, and the economic resilience supported by Japanese companies' participation in the semiconductor supply chain and stock market reforms all support the yen. Japan's economic resilience and rising real income should strengthen the hawkish position within the Bank of Japan. There is a constructive view of the yen in the medium term. Rabobank advanced its 15-month forecast of $1 to 148 yen to 12 months.

Rabobank pointed out that the yen has recently strengthened sharply without official intervention, indicating that the market may reflect changes in Japan's fundamentals. Senior foreign exchange strategist Jane Foley wrote in the report that signs of domestic inflation based on actual wage data are more obvious, and the economic resilience supported by Japanese companies' participation in the semiconductor supply chain and stock market reforms all support the yen. Japan's economic resilience and rising real income should strengthen the hawkish position within the Bank of Japan. There is a constructive view of the yen in the medium term. Rabobank advanced its 15-month forecast of $1 to 148 yen to 12 months.