Which Currencies Are Traded in FOREX?USD), the Euro Dollar (EUR), the Japanese Yen (JPY), the British Pound Sterling (GBP), the Swiss Franc (CHF), the Canadian Dollar (CAD), and the Australian Dollar (AUD). See Table .
Major FOREX Currencies
There are 21 [6 + 5 + 4 + 3 + 2 + 1] possible pairs to trade with just these seven currencies. Adding the New Zealand dollar -- NZD -- brings that total to 28.
FOREX currency symbols are almost always three letters, by which the first two letters identify the name of the country and the third letter identifies the name of that country's currency. (The CH in the Swiss Franc acronym stands for Confederation Helvetica.)
Once again: A FOREX transaction is always between two currencies. This often confuses new traders coming from the stock or futures markets in which every trade is denominated in dollars. The price of a pair is the ratio between their respective values. Pairs, crosses, majors, minors, and exotics are terms referencing specific combinations of currencies. I discuss these in The Language of FOREX. They are also defined in the Glossary.
By Michael Duane Archer