CAD/JPY
The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian Dollar is known - is affected by oil prices because of Canada's energy exports.
--- Update ---
CAD/JPY
83.60 +0.03 +0.03%
15/03 - Closed. ( Disclaimer )
Type: Currency
Group: Minor
Base: Canadian Dollar
Second: Japanese Yen
Prev. Close: 83.57 Bid/Ask: 83.57 / 83.62 Day's Range: 83.40 - 84.06
The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian Dollar is known - is affected by oil prices because of Canada's energy exports.