CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The SGD/JPY spot figure informs currency traders of the amount in Singapore dollars they can acquire with a single Japanese yen.
Japanese yen tends to make gains when encouraging economic, employment and trade reports are released, while certain commodities such as oil, base metals involved in the car industry and coal can have an effect.
The currency is considered a safe-haven money, so in times of uncertainty or turmoil in the fx markets many investors will choose to buy up yen, which boosts its price.
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