Precious metals investment terms A to Z

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Yen

The yen is the currency of Japan, officially adopted in 1871. The word “yen” means “circle” or “round object”. The currency is managed by the Bank of Japan, based in Tokyo, and it is one of the most difficult national currencies to counterfeit. Its international code is “JPY”. Just like the U.S. dollar or the euro, the yen is fiat money. Since it is a currency of one of the largest economies in the world, the yen is used as a reserve currency along with the U.S. dollar, the euro, and the pound sterling. It is also the third most traded currency in the foreign exchange market, after the greenback and the euro. Indeed, it is the second most widely held currency, after the U.S. dollar. The USD/JPY is also one of the most popular pairs forex trading.

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Yield curve

The old joke is that the stock market has predicted 9 out of the last 5 recessions. However, the yield curve have much better accuracy, as nine inversions of the yield curve since 1953 predicted eight recessions and one credit crunch followed by economic slowdown. 

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