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New Zealand Dollar / Japanese Yen (NZD/JPY)

Follow the New Zealand Dollar (NZD) vs Japanese Yen (JPY) exchange rate. Access live rates and detailed market analysis for informed trading at FP Markets Switzerland.
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New Zealand Dollar / Japanese Yen (NZD/JPY) Profile

The Japanese Yen is a low-yielding currency, making an attractive to fund carry trades. They borrow cheaply in JPY to buy higher-yielding currencies, including New Zealand dollar (NZD). Usually, traders choose carry trades sometime when optimism is dominant about global economic conditions and stability. They tend to avoid them at times of market stress. As a result, NZD/JPY becomes sensitive to swings in broad-based market sentiment trends.

New Zealand currency has a long history of over 160 years. During the 1800s, New Zealand used its coins and banknotes before British currency was even legal currency. The New Zealand dollar is the official currency of New Zealand and is represented by the symbol $ or NZ$ to set it apart from other currencies based on dollars.

The Japanese Yen (JPY) is the leading reserve currency in the Asian markets. It's high liquidity is a privilege to traders looking to profit on market movement in countries whose currencies would otherwise be tougher to trade. The concept of the yen was a component of the late 19th century that postulated the pursuit of a uniform currency throughout the country, modelled.

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New Zealand Dollar / Japanese Yen (NZD/JPY) Trading FAQ

While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the NZD/JPY whenever the currency pair is more volatile. Traders should try and trade NZD/JPY during peak market hours when both currencies are widely available. When Tokyo and Wellington markets are both open, which is 10 p.m to 6 a.m (GMT) for UK traders.

The NZD is considered a steady currency because of the strength of the New Zealand economy and its outlook. New Zealand’s economy is basically affected by the tourism industry, and when tourism in New Zealand goes well, the currency will tend to be stronger. The Japanese yen became very popular among investors around the world as a safe haven, currency hedge and carry trade. There is an easy way for investors across the world to gain exposure to the Japanese yen, which is by using exchange-traded funds (ETFs).

The NZD/JPY is responsive to economic news including major economic developments coming out of China, to Japanese inflation data, interest rates, and labour market data. Also the pair can be influenced by New Zealand’s ups and downs in prices of major commodities exports such as wool,meat, and milk.

As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as NZD and JPY. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.

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