Most Traded Currency Pairs in Forex Market

If we talk about currency pairs, it is vital to say that their existence in the early 90s gave rise to an entire trading domain. Forex enthusiasts and leaders are starting to learn the basics of Forex trading, which usually begins with understanding currency pairs.

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Currency Pairs in the FX Market:

In simple terms, we see the Safe of two currency pairs in denominations, such as EUR/USD; tut directly refers to the currency of two dissertations. To make it easier to understand, refer to the Lift side as the Base currency and the Right side as the taking currency.

The first step for forex trading begins with understanding how to utilize and compare information in trading.

For instance, if a trader is quoted AUD/USD 1.13, the trader can exchange 1 Australian dollar and receive 1.13 US Dollars. Also, Suppose the AUD/USD Ubon goes from 1.13 today to 1.15 tomorrow. In that case, it means the Australian dollar has a rate highly relative to the U.S. dollar, or the U.S. dollar has a rate lowly relative to the Australian dollar.

Now that you understand the standard consider the most based currency pairs in the Forex Market, which includes Major and Minor and Exon pairs. However, in this article, we will understand the most dominant and widely traded currency pairs depend on other factors. 

1) Major Currency pairs:

EUR/USD (EURO / US DOLLAR)

GBP/USD (BRITISH POUND / US DOLLAR)

USD/JPY (US DOLLAR / JAPANESE YEN)

USD/CHF (US DOLLAR / SWISS FRANC)

USD/CAD (US DOLLAR / CANADIAN DOLLAR)

AUD/USD (AUSTRALIAN DOLLAR / US DOLLAR)

NZD/USD (NEW ZEALAND DOLLAR / US DOLLAR)

EUR/USD (EURO / US DOLLAR):

The Currency Pair EUR/USD is the shortened term for the euro against the U.S. dollar pair or cross for the European Union (E.U.) and the United States (USD) currencies. The currency pair indicates many U.S. dollars (the repeat currency) are needed to purchase one euro (the base currency).

GBP/USD (BRITISH POUND / US DOLLAR):

The GBP/USD is the forex ticker showing the British Pound’s value against the U.S. Dollar. It tells traders how many U.S. Dollars are needed to buy a British Pound. The Pound-Dollar is one of the world’s oldest and most widely traded currency pairs.

USD/JPY (US DOLLAR / JAPANESE YEN):

The USD/JPY represents the currency exchange rate for the U.S. dollar and the Japanese yen. The pair shows how many yen are bought for one U.S. dollar—the quote and base currency.

USD/CHF (US DOLLAR / SWISS FRANC):

USD/CHF is the currency pair of U.S. dollars and Swiss francs. The currency pair shows many Swiss francs (the quote currency) are needed to purchase one U.S. dollar (the base currency). Trading the USD/CHF currency pair is also known as changing the “Swissie.”

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2) Minor Currency Pairs:

EUR/GBP (EURO / BRITISH POUND)

GBP/JPY (BRITISH POUND / JAPANESE YEN)

GBP/CHF (BRITISH POUND / SWISS FRANC)

GBP/AUD (BRITISH POUND / AUSTRALIAN DOLLAR)

EUR/JPY (EURO / JAPANESE YEN)

AUD/CAD (AUSTRALIAN DOLLAR / CANADIAN DOLLAR)

EUR/GBP (EURO / BRITISH POUND):

The EUR/GBP is the currency pair containing the European Union’s one currency, the euro (Code of EUR, Symbol of € ), and the British pound of the United Kingdom (Code of GBP, Symbol of £ ). The pair’s rate indicates how many British pounds are needed to purchase one euro.

GBP/JPY (BRITISH POUND / JAPANESE YEN):

In the GBP-JPY forex rate, the GBP is the base currency, and JPY is the quote currency. The price of the GBP-JPY pair represents the number of Japanese yen taken to exchange for one unit of the British pound sterling.

GBP/CHF (BRITISH POUND / SWISS FRANC):

GBP/CHF is the British pound to Swiss franc exchange rate ticker. Its tells traders many francs needed to buy a single pound. Both are considered major currencies, but the GBP/CHF pair is only considered minor because it does not contain the U.S. dollar.

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3) Exotic Currency Pairs:

USD/ZAR (US DOLLAR / SOUTH AFRICA RAND)

USD/MXN (US DOLLAR / MEXICAN PESO)

USD/TRY (US DOLLAR / TURKISH LIRA)

USD/NOK (US DOLLAR / NORWEGIAN KRONE)

EUR/ZAR (EURO / SOUTH AFRICA RAND)

USD/SEK (US DOLLAR / SWEDISH KRONA)

EUR/NOK (EURO / NORWEGIAN KRONE)

USD/ZAR (US DOLLAR / SOUTH AFRICA RAND):

The USD/ZAR is an exotic pair in currency trading, as the rand component (ZAR) is an emerging market currency with less liquidity than developed market currencies.

USD/MXN (US DOLLAR / MEXICAN PESO):

USD/MXN is the ticker symbol for the U.S. Dollar to Mexican Peso exchange rate on the Forex market. The American USD dollar and Mexican peso currency pair (USD/MXN) tracks to the USD is worth against the Mexican peso currency (MXN).

USD/TRY (US DOLLAR / TURKISH LIRA):

USD/TRY is a forex currency pair. They are compared to the value of one U.S. dollar to its equal to the value of the Turkish lira.

USD/NOK (US DOLLAR / NORWEGIAN KRONE):

USD/NOK is a strange currency pair because its constituent currency is that of an emerging nation, Norway. Exotic currency pairs typically feature low trading volumes and overall illiquidity and are traded with relatively higher spreads than significant currency pairs.

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