The currency pair of pound sterling to the Japanese yen reflects the interaction of two strong economies. Japan and the UK are distinguished by a developed industry, high GDP and intensive business activity, which explains the popularity of this financial instrument, despite the high risk of trading this pair. It is believed that the currency pair GBP / JPY is difficult to forecast, due to the susceptibility of the pair to many world economic and political events.
Factors that may affect the course of the pair:
Interesting fact: due to the "hot-tempered nature" of the GBP / JPY currency pair, traders nicknamed it "dragon" or "royal couple." This pair is characterized by aggressive trading signals, a wide range of price fluctuations, unpredictability, so novice traders are not recommended for this pair.
For 2015, the UK economy in terms of GDP in terms of PPP was tenth. The leading direction of the British economy is the service sector. The UK provides 10% of global exports of services, including banking, brokerage, advisory and programming. The second most important sector of the economy is industry: mining (2.2% of GDP) and manufacturing (14.7% of GDP). The main export of the country is engineering, transport, industrial goods and chemicals. Oil production since the 1970s brought a significant profit in trade and allowed to reduce the import of petroleum products.
Using the current exchange rate chart, you can monitor the dynamics of a currency pair in real time.
The GBP / JPY pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and the quoted currency is JPY, the Japanese yen. The appreciation of the currency pair means the strengthening of the British pound against the Japanese yen, that is, to buy one GBP, more JPY is required. The depreciation speaks of the strengthening of the Japanese yen.
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.
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also the pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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