T. Rowe Price portfolio manager David Clewell said in a report that Japanese equities look attractive, particularly if USD/JPY rises above 152. The 152 level matters because it roughly matches the exchange-rate assumption Japanese firms use in the Bank of Japan's quarterly Tankan; a yen weaker than that could prompt markets to raise earnings expectations for Japanese exporters.

2026-10-02

T. Rowe Price portfolio manager David Clewell said in a report that Japanese equities look attractive, particularly if USD/JPY rises above 152. The 152 level matters because it roughly matches the exchange-rate assumption Japanese firms use in the Bank of Japan's quarterly Tankan; a yen weaker than that could prompt markets to raise earnings expectations for Japanese exporters.