The foreign exchange market is a global decentralized market for the trading of currencies. It is the largest and most liquid financial market in the world. In terms of the volume of traded currency, the forex market is by far the biggest in the world. The average daily turnover in the forex market is estimated to be around $5 trillion. This article will provide an overview of some of the most commonly traded currency pairs in the forex market.
USD/JPY
The USD/JPY pair is one of the most traded currency pairs in the world. The pair is also known as the “Japanese Yen”. The USD/JPY pair is a popular choice for traders looking to take advantage of the Japanese Yen strength or weakness against the US Dollar.
GBP/USD
The GBP/USD pair is another one of the most traded currency pairs in the world. The GBP/USD pair is also known as the “Sterling” or the “Cable”. The GBP/USD pair is a popular choice for traders looking to take advantage of the Pound Sterling’s strength or weakness against the US Dollar.
EUR/USD
The EUR/USD pair is one of the most liquid and heavily traded currency pairs in the world. The EUR/USD pair is also known as the “Euro” or simply the “Euro-Dollar”. The EUR/USD pair is a popular choice for traders looking to take advantage of Eurozone economic strength or weakness against the US Dollar.
USD/CHF
The USD/CHF pair is one of the most traded currency pairs in the world. The USD/CHF pair is also known as the “Swissie”. The USD/CHF pair is a popular choice for traders looking to take advantage of Swiss Franc strength or weakness against the US Dollar.
AUD/USD
The AUD/USD pair is one of the most traded currency pairs in the world. The AUD/USD pair is also known as the “Aussie”. The AUD/USD pair is a popular choice for traders looking to take advantage of the Australian Dollar strength or weakness against the US Dollar.
USD/KRW
The USD/KRW pair is one of the most traded currency pairs in the world. The USD/KRW pair is also known as the “South Korean Won”. The USD/KRW pair is a popular choice for traders looking to take advantage of the South Korean Won strength or weakness against the US Dollar.
USD/CAD
The USD/CAD pair is one of the most traded currency pairs in the world. The USD/CAD pair is also known as the “Canadian Dollar” or simply the “Loonie”. The USD/CAD pair is a popular choice for traders looking to take advantage of the Canadian Dollar’s strength or weakness against the US Dollar.