The EUR/JPY is a currency pair specifying how many Japanese Yen are needed to buy 1 Euro. The Japanese Yen is backed by the Bank of Japan, which serves as the central bank to one of the world's largest economies.
In this currency pair, the Euro is the base currency, with a value of 1, and the value that changes is the Japanese Yen. The currency pair can be affected by many factors, induding changes that impact the economies of the Asia Pacific region and the EU, and announcements by the European Central Bank (ECB). |
