The currency pair of the New Zealand dollar against the Japanese yen is considered a rather complex trading instrument. Its use in trading is not recommended for novice traders, since this currency pair is extremely sensitive to major political and economic news. Also, the Japanese yen often moves in the opposite direction from the predicted one.
The economy of New Zealand is based on agriculture, primarily the production and processing of dairy products and sheep wool, which is exported all over the world. The country aspires to receive electricity from renewable sources, which in 2018 completely closes coal generation. After filming the kinotrilogy "The Hobbit" and "The Lord of the Rings" in New Zealand, the tourist business began to develop actively.
The Ministry of Finance of Japan has a great influence on the Japanese yen, which can provoke sharp fluctuations of the yen's rate by unexpected statements. The actions of the central bank of Japan are also reflected in the national currency. An important indicator is the discount rate of the Bank of Japan. The rate is set to stabilize the economic situation in the country. Important indicators are GDP and a quarterly reports on the largest state-owned companies (Tankan).
The currency pair NZD / JPY is built on the principle of direct quotation. The base currency is NZD, New Zealand dollar, and quoted - JPY, Japanese yen. The appreciation of the currency pair means the strengthening of the New Zealand dollar against the Japanese yen, that is, the purchase of one NZD requires more JPY. The depreciation speaks of the strengthening of the Japanese yen.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
New Zealand Dollar - (bank code: NZD) - often referred to as "kiwi" - the official currency of New Zealand, also on the islands: Niue, Cook Islands, Tokelau and Pitcairn. The central bank of the country that also issues currency is the Reserve Bank of New Zealand. Since 1999, New Zealand dollars have been printed on plastic.
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.
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