NEW ZEALAND DOLLAR / JAPANESE YEN Trading
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.
History of NZD JPY Trading
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.
|NZD/JPY Forex Chart|
|Minimum Nominal Trade Size: 1000|
|Overnight Interest (daily) Sell: -3.35%|
|Overnight Interest (daily) Buy: -0.46%|
|Trading Hours (GMT): 24/5|
|MT5 / MT4 Symbol: NZD/JPY|
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