NZD/JPY is an exchange rate that specifies how many JPY (Japanese Yen) can be converted into one NZD (New Zealand Dollar), therefore the base currency is NZD and the price currency is JPY. If this rate declines, it means that JPY appreciates relative to NZD and if this rate increases it means that the JPY depreciates against the NZD. There are many macroeconomic factors/events (fundamentals) that affect NZD/JPY exchange rate, which are usually common in both countries. Some of the most notable factors/events are GDP, Inflation or Consumer Price Index (CPI), Interest Rates and other monetary policies applied by central banks. Historically, the exchange rate reached a low value of 41.70 in October of 2000 and a high value of 436.99 in August of 1974. Regarding the trade relationship between New Zealand and Japan, the latter imports 6.3% of New Zealand's total exports, whereas New Zealand imports 0.47% of Japan's total exports. The largest components of New Zealand's exports are dairy products whereas Japan's largest export components are vehicles other than railway, tramway. Any significant shifts in the trade relationship between the two regions and changes in the values of the aforementioned components are some of the factors that could have a material impact on the pair.
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