Canadian Dollar/Japanese Yen FX Cross Rate

CAD/JPY is the exchange rate between the commodity-linked Canadian dollar and the safe-haven, funding-currency Japanese yen. It is a classic carry-trade cross that acts as a risk barometer. The pair tends to rise when oil prices and global risk appetite increase, with the Canadian dollar strengthening and the yen weakening, and it tends to fall during risk-off episodes. It therefore combines an energy story with global market sentiment.