Convert JPY to PHP
The JPY/PHP currency pair experiences significant volatility on the release of important economic data from Japan as well as the Philippines, including GDP, inflation, unemployment rate, PPI, retail sales, business confidence, trade balance, industrial production and PMI readings from manufacturing and services sectors.
The JPY/PHP forex pair sees maximum volatility during the Asian session, when markets in Japan and the Philippines are open and most of the relevant fundamental developments that can affect both currencies release.
Trade is an important contributor to the economies of both Japan as well as the Philippines. As a result, trade balance is a key driver of price action in the JPY/PHP currency pair. For instance, if Japan posts a higher trade surplus than expected, it strengthens the JPY and turns this pair bullish, and vice versa.