GREAT BRITAIN POUND/ JAPANESE YEN TRADING
The Great Britain Pound (GBP) vs the Japanese Yen (JPY) is a highly volatile currency with the latter often used as a funding currency of a trade because it is historically a low yielding currency. Since the United Kingdom is one of the larger economies in Europe, the GBPJPY pair can be considered as a proxy for global economic health. However, this currency pair functions like a representative for market ‘risk-off’ moves as the carry trade gets reversed. Consequently, GBP JPY is able to develop powerful trends that exceed thousands of pips.
History of GBP JPY Trading
The Great British pound (GBP) is the fourth most traded currency in the forex market, after the United States dollar, the Euro, and the Japanese yen. Along with those three currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Additionally, it is the fourth most held reserve currency globally after the middle of 2021.
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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Source - database | Page ID - 5551