ZAR/JPY

This is the forex pair that features the South African Rand - Japanese Yen cross pair. This pair can be used as a carry trade due the ZAR's high yield. However traders will note the large volatility in this pair, which resulted in a fluctuation between 9.00 and 11.00 between 2012 and 2013. The South African economy is most known for its natural resources, which has helped propel it to become one of the fastest growing countries in the last decade. However due to South Africa's reliance upon raw materials, the ZAR is particularly sensitive to economic downturn.