Course CAD(Canadian Dollar)-JPY(Japanese Yen) for today
Quotes CAD/JPY for today .
Importance of the Canadian Dollar The Canadian Dollar is the seventh-most traded currency on the Forex market, as many institutions and individuals trade the CAD. People also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French). The Canadian Dollar is held as a reserve currency by a number of central banks. It is also known as a commodity currency, due to the country's substantial raw material exports.
- Central bank: The Bank of Canada
- The Canadian dollar (CAD) is also known as the loonie.
- The CAD is called a “commodity currency” because Canada is a world leader in resource exports: oil, lumber, fish, food, and many types of minerals—copper, nickel, potash, uranium, gold.
- Canada usually has a modest trade surplus, with 70% of its exports going to the U.S.
Importance of the Japanese Yen The Japanese Yen is the third most traded currency in the world, and the most heavily traded currency in Asia. Due to its relatively low interest rates, the Japanese Yen is often used in carry trades with the Australian Dollar and the US Dollar. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate.
- Central bank: The Bank of Japan
- Since its defeat in World War II, Japan has become one of the world's largest and most technologically advanced manufacturers of motor vehicles, electronic equipment, machine tools, and so on.
- The JPY has appreciated against USD since the 1970s, making Japan’s manufactured goods more costly and less competitive.
- The Bank of Japan keeps interest rates at near-zero, making JPY a popular “carry trade” currency against other higher-yielding currencies.