About SGD/JPY
SGD/JPY pairs two Asian currencies that behave very differently. The Singapore dollar is managed within a trade-weighted band by the Monetary Authority of Singapore and is comparatively stable. The Japanese yen floats freely and has long served as a funding and safe-haven currency, strengthening in periods of stress. The pair is therefore often read as a regional risk indicator.
What Moves SGD/JPY?
Risk sentiment
The yen tends to strengthen when markets are defensive, which pulls the pair lower independently of anything happening in Singapore.
Bank of Japan policy
Japanese policy has been the single largest source of yen volatility in recent cycles, and guidance is watched closely.
The MAS policy band
Singapore’s scheduled band reviews are the equivalent of rate decisions for that leg.
Regional trade and Chinese demand
Both economies are trade-exposed, though through different channels.
Trading SGD/JPY
Prices on this page come from our own market feed. The chart, the 52-week range and the performance figures are measured from our own daily closes, and any figure our history cannot support is withheld rather than estimated. Nothing here is a recommendation or a forecast β see our methodology for how each figure is produced.