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Pairing – The amount of Japanese yen (JPY) that one can buy for every Canadian dollar (CAD).
CAD – World’s sixth most traded currency
JPY - World’s third most traded currency
Interest – These are perhaps two of the best known and most popular reserve currencies, and so this pairing is often of great interest to investors.
Commodities – It has been clear over recent years that the value of the Canadian dollar is becoming less attached to the economic position of the US. While their North American neighbours are still an influence, it is now the price of oil that has the greater impact. Timber and base metal prices may also affect the dollar. The yen is also reliant on certain commodities to a point, especially those used in the automobile industry such as oil and base metal.
Economy – Economic strength has more of an effect on the yen, with unemployment numbers, interest rates, and inflation often having the largest impact.