The NZD/USD currency pair is one of the ten most traded currencies in the world and gained considerable appeal during the multi-decade commodity boom. New Zealand’s economy is centred around its export market. As a country, it is rich in natural resources and is a major exporter of goods including timber, meat, fish, fruit, wool and dairy products. Because of this, the commodity prices can also have a significant impact on the value of the NZD, this is especially true of dairy and timber prices.
The GBP/JPY is a widely-followed market for medium and long-term traders. Since the JPY is historically a low yielding currency, it is often used as a funding currency for the carry trade. As a result of that, the impact on the JPY and the size of the UK’s economy, the GBP/JPY can develop strong directional trends that can be in excess of thousands of pips.