NZD/JPY

NZD/JPY CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the New Zealand Dollar against the Japanese Yen.  

The New Zealand Dollar, issued in New Zealand, is heavily influenced by commodity prices, particularly dairy and agricultural exports. New Zealand's economy is closely tied to these sectors.  

The Japanese Yen, issued in Japan, is considered a safe-haven currency, often sought after during times of economic uncertainty.

Japan's economic stability and low interest rates contribute to the Yen's role as a safe haven. Therefore, the Japanese Yen may experience fluctuations based on global economic stability and investor risk sentiment. The NZD/JPY currency pair will be influenced by global risk sentiment, the commodity markets, and the relative economic performance and monetary policies of New Zealand and Japan.