SGD/JPY

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

The Singapore Dollar, issued in Singapore, is managed by the Monetary Authority of Singapore (MAS) through an exchange rate policy, where it is allowed to fluctuate within a policy band against a trade-weighted basket of currencies. Singapore's economy is heavily reliant on trade, finance, and manufacturing.  

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 SGD/JPY currency pair will be influenced by global risk sentiment, and the relative economic performance and monetary policies of Singapore and Japan.