NZD/JPY

NZD/JPY

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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
Instrument: NZD/JPY
Spread: floating
Leverage: 20:1
Margin: 5.00%
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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NZD/JPY Trading FAQs

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.

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