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.