Trading of complex financial products, such as Stocks, Futures, Foreign Exchange (‘Forex’), Contracts for Difference (‘CFDs’), Indices, Options, or other financial derivatives, on ‘margin’ carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any of these markets you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full ‘General Risk Disclosure’ and ‘Risk Disclosures for Financial Instruments & Investment Services’.

US Dollar vs Japanese Yen (USDJPY)



USDJPY is the abbreviation for the U.S. Dollar and Japanese Yen currency pair. Trading the two is also known as trading the "gopher." It is regarded as the second most actively traded currency pair after the EURUSD. The interest rate differential between the Federal Reserve (Fed) and the Bank of Japan (BoJ) affects the value of USDJPY when compared to each other. Additionally, correlations between the U.S. and Asian equity markets are a key determinant of the exchange rate. The pair has a positive correlation with the USDCHF and USDCAD currency pairs as they all apply the U.S. dollar as the base currency. The pair has the largest range of traders among the majors and also tends to trade with a higher degree of volatility across all trading sessions.

Trade Forex, Commodities, Precious Metals, Energies and Equity Indices from 1 Account.