ZAR/JPY

ZAR/JPY CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the South African Rand against the Japanese Yen.

The South African Rand, issued in South Africa, is heavily influenced by commodity prices, particularly gold and platinum, due to South Africa's significant natural resource exports. The Rand may experience fluctuations in response to these commodity prices, domestic political stability, and economic indicators related to South Africa.

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 ZAR/JPY currency pair will be influenced by global risk sentiment, the commodity markets, and the relative economic and political stability of South Africa and Japan.