There are 8
currencies that are considered as majors: US Dollar, Japanese Yen, Swiss Franc,
Australian Dollar, Canadian Dollar, New Zealand Dollar, Euro, and Pound
Sterling.
These
currencies are majors since they are the most traded in the forex market, and
they correlate with the largest economies in the world. They represent 85% of trading
volume in the forex market.
Currencies
are named, using three letters. Usually, the first two letters represent the
country’s name and the third letter represents the country’s currency name.
For example:
AU D, AU is for Australia and the D is for Dollar.
Other
examples include GBP JPY USD
Over the
years, analysts and traders have created nicknames for some currencies, such as
fiber for the euro, cable for the pound, and many other nicknames that you can
see in front of you.
Thanks for
watching our summary on major currencies in the forex market.
