Rabobank: Yen May Hit 148 per Dollar in 12 Months

Rabobank's revised yen outlook signals a shift in market perception, where currency strength is now tied to structural domestic factors rather than intervention. This matters for traders and corporates exposed to USD/JPY, as it implies a potential repricing of Japan's economic trajectory. The open question is whether wage momentum and supply-chain participation will sustain the yen's support, or if external pressures like US policy will counter this trend. Watch for further validation from economic data.