The Japanese Yen (JPY) is the official currency of Japan and one of the most widely traded currencies in the world.
The Yen is considered a major reserve currency and plays a crucial role in the global economy. It is often seen as a safe-haven currency during times of market volatility.
It operates under a floating exchange rate system which means that the value of a currency is determined by market forces.
The value of the Yen can fluctuate significantly against other currencies, influenced by factors such as interest rates, inflation, and geopolitical events. It is commonly paired with currencies like the US Dollar (USD/JPY) and the Euro (EUR/JPY).
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