The yen is Asia's most traded currency and a classic safe-haven: it often strengthens when global markets sell off. Years of ultra-low Japanese rates made the yen the world's favourite funding currency for carry trades, so BoJ policy shifts can move JPY sharply.
| Currency code | JPY |
| Central bank | Bank of Japan (BoJ) |
| Region | Japan |
| Key drivers to watch | BoJ policy statements, US-Japan yield differentials, global risk sentiment |
| Tracked pairs | JPY/USD, JPY/EUR, JPY/GBP, JPY/CHF, JPY/AUD, JPY/CAD, JPY/CNY, JPY/INR, JPY/SGD, JPY/NZD, JPY/SEK |
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