The currency pair is the euro - the Japanese yen (EUR / JPY).
In late 2017, Japan and the European Union reached an agreement on a free trade agreement. The agreement should be signed in the summer of 2018 and enter into force in 2019. As a result, Europe should reduce duties on import of Japanese cars, and Japan will open more doors for dairy and agricultural products of European producers (farmers), including cheese, wine and pasta. In addition, the EU hopes to abolish the ban on receiving government orders by foreign companies. It is expected that after the entry of the agreement comes into force, the export of goods from Europe to Japan will grow by 30%. As a result, a new free trade zone will emerge, accounting for 30% of the world's GDP, with a combined population exceeding 600 million people. The growth in trade between the EU and Japan will undoubtedly affect the trading of the euro currency pair - the Japanese yen on the forex, making it even more liquid.
The currency pair EUR / JPY is built on the principle of direct quotation. The base currency is EUR, euro, and quoted - JPY, Japanese yen. The growth of the currency pair means strengthening of the euro against the Japanese yen, that is, for the purchase of one EUR, more JPY is required. The depreciation indicates the strengthening of JPY. Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
Euro (currency sign - €, bank code: EUR) - official currency of 19 eurozone countries (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia , Finland, France, Estonia). Also, the currency is used in nine countries that are not members of the euro area. The Euro is managed by the European System of Central Banks (ESCB), led by the European Central Bank (ECB).
Japanese yen - (Japanese currency, currency symbol -, bank code: JPY) is the currency of Japan, one of the world's main reserve currencies. The issuing center is the central bank of Japan. To maintain the competitiveness of industrial producers, Japan regularly conducts measures to weaken the national currency (intervention).
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