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British Pound / Japanese Yen (GBP/JPY)

Keep track of the British Pound (GBP) vs Japanese Yen (JPY) exchange rates. Access the latest price movements and trading insights at FP Markets Switzerland.
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British Pound / Japanese Yen (GBP/JPY) Profile

The Great Britain Pound (GBP) vs the Japanese Yen (JPY) is a highly volatile currency with the latter often used as a funding currency of a trade because it is historically a low yielding currency. Since the United Kingdom is one of the larger economies in Europe, the GBPJPY pair can be considered as a proxy for global economic health. However, this currency pair functions like a representative for market ‘risk-off’ moves as the carry trade gets reversed. Consequently, GBP JPY is able to develop powerful trends that exceed thousands of pips.

The Great British pound (GBP) is the fourth most traded currency in the forex market, after the United States dollar, the Euro, and the Japanese yen. Along with those three currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Additionally, it is the fourth most held reserve currency globally after the middle of 2021.

The Japanese Yen (JPY) is the leading reserve currency in the Asian markets. It's high liquidity is a privilege to traders looking to profit on market movement in countries whose currencies would otherwise be tougher to trade. The concept of the yen was a component of the late 19th century that postulated the pursuit of a uniform currency throughout the country, modelled.

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British Pound / Japanese Yen (GBP/JPY) Trading FAQ

While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the GBP/JPY whenever the currency pair is more volatile. From 08:00 am to 5:00 pm, the GBP/JPY is usually busy (GMT). This currency pair undergoes higher volumes during the day but is more active during this period which often provides the most opportunities to deploy trading capital.

The GBP/JPY is widely known for being a ‘carry currency cross’, as traders can use it in a carry trade strategy to profit from interest rate differences. As a result, the GBP JPY pair is heavily affected by central bank decisions from the Bank of England and Bank of Japan, but also commodity prices such as crude oil.

As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as GBP and JPY. At the same time, there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.

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