A major 'safe-haven' pair. Trade the US dollar against the Japanese yen with tight spreads and leverage up to 1:500.
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USD/JPY is one of the most traded currency pairs and a classic barometer of risk sentiment — the yen often strengthens when markets turn risk-off. It is especially sensitive to the interest-rate gap between the Federal Reserve and the Bank of Japan.
At Otto you trade USD/JPY as a CFD. Go long if you expect the dollar to strengthen against the yen, or short if you expect it to weaken, with leverage up to 1:500.
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In periods of market stress, capital often flows into the yen, which tends to strengthen — this can move USD/JPY sharply.
Mainly the interest-rate gap between the Fed and the Bank of Japan, plus US and Japanese bond yields.
Japanese authorities occasionally act to influence the yen's value, which can cause sudden, large moves.
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