Currency Trading: The Majors
Monday, February 25th, 2008In the Currency Trading business, currencies are obviously the most important asset. If you will notice on a typical Forex chart, you will see that currencies are grouped in pairs, using the format XXX/YYY (these are the international 3-letter codes for currencies). For example, EUR/USD is the price of the Euro expressed in US dollars. Stats show that over 80% of all currencies are traded against the USD, making the USD the currency that is being traded the most. The second most traded currency pairs is the Euro (EUR)., Then, the Pound Sterling (GBP). Then, the Japanese Yen (JPY). And finally, the Swiss Franc (CHF). Those five currencies are what are known as "The Majors".