EUR JPY Forex Live Chart
Live chart of Euro (EUR) versus Japanese Yen(JPY)
EUR JPY – Euro vs Japanese Yen
The euro faced early falls at the time it was launched, but within a few years the situation has become totally different. Today the Euro and Japanese Yen make a great pair in the forex trading.
The euro is the official currency of the eruozone that includes the 17 countries of the European Union out of 27. These countries include the Portugal, Finland, Austria, Belgium, Estonia, Greece, Ireland, Italy, Malta, Germany, Slovenia, Spain, Netherlands, Luxembourg, and Cyprus. This currency made the second largest reserve currency of today’s market. This is also the second most traded currency around the world, and it is estimated that almost 332 million daily use this currency. The euro currency name is derived from Greek language, and symbolically it is represented as €. The official code of this currency is EUD.
This currency has the highest combined value of coins and bank notes in the circulation. The eurozone makes the second largest economy of the world, and this currency was officially introduced, in 1999. The European Central Bank controls the value of the euro in Frankfurt. It is also true that this bank does not hold the significant control on the value of the euro. This currency highly impacts the exports, tourism, and agriculture services of the Eurozone.
The Japanese Yen
The Japanese Yen is the currency of the Japan, and symbolically it is represented as ¥. The official code of the Japanese yen is JPD. Since 1973, the Japanese yen has been declared as the floating currency. This is also used as a popular reserve currency in the Asia. The major exports of the gold, silver, magnesium makes this country as one of the largest economies around the world. The value of the Japanese yen is under the strict control of the Bank of Japan. This has helped to maintain the low interest rate on the Japanese Yen since 1990. This has resulted as a significant increase in the use of the Japanese Yen in the business and government, as a carry currency. The Japanese economy is dependent on other countries to the supply of several essential of the modern industry like copper, iron ore, and bauxite.
Relationship of EUR and JPY
It is shocking but the pair of the EUR and JPY is not considered as major pair. Both of these currencies are the significant players against the American dollar. The pair of the EUR/JPY is considered as highly correlated in the stock markets of across the world. The traders of the EUR/JPY run for cover as the money is flowing out of the markets of both countries. As the global economy is down the traders of this pair are fearful as compared to the traders of the USDEUR or USDJPY.