Base Currency: USD
Quote Currency: JPY
Group: Major Currency Pair
The USD,is the acronym for the American Dollar; it is also called “Greenback” or “Buck”. The Federal Reserve System (FRS) issues this currency.
The USD a reserve currency that the market, central banks, and investors strongly vie for.
The US Dollar is seen as a “safe haven” asset. This is the case as despite challenging economic times, the U.S. economy remains stable.
The JPY stands for Japanese Yen. In trading operations, the JPY closes the 3 most important currencies in the world market. Logically, the Japanese Bank issues the JPY.
Given that Japan boasts of a strong economy, the country experiences minimal inflation. As a result, the Yen is considered as a “safe haven” currency.
The JPY has a low price range, making the currency bear lower rates.
In the Asian Market, the JPY is a frequent bidder.