Yen crosses

Yen rates set through the dollar rather than directly

In detail

A yen cross pairs the yen with a currency other than the US dollar, such as euro-yen or sterling-yen. Most currencies trade against the dollar first, so these rates come out of multiplying dollar-yen by that currency's dollar rate. Watching only one leg leaves the move unexplained, because the dollar is working on it from the side.

Example

Dollar-yen at 150 and euro-dollar at 1.1 puts euro-yen at 165.

Related terms

Currency pair Exchange rate Weak yen, strong yen

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For learning, not investment advice. Decisions are your own.