Various currency pairs in the foreign exchange market.
In the foreign exchange market, as we all know, it is the largest international currency exchange market in the world. In this section, we will get to know the major currencies traded in the forex market.
There are 8 major currencies commonly used in the forex market:
USD = US Dollar
AUD = Australian Dollar
EUR = Euro
GBP = British Pound Sterling
NZD = New Zealand Dollar
JPY = Japanese Yen
CAD = Canadian Dollar
CHF = Swiss Franc
Popular Currency Pairs That People Commonly Trade
As mentioned earlier, the foreign exchange market allows us to profit by taking advantage of price fluctuations through speculation on the price differences of currency pairs. The most commonly traded currency pairs in the market include:
AUD/USD (A/U) – Australian Dollar / US Dollar
GBP/USD (G/U) – British Pound / US Dollar
EUR/USD (E/U) – Euro / US Dollar
NZD/USD (N/U) – New Zealand Dollar / US Dollar
USD/CAD (U/CAD) – US Dollar / Canadian Dollar
USD/CHF (U/CHF) – US Dollar / Swiss Franc
USD/JPY (U/J) – US Dollar / Japanese Yen
However, the foreign exchange market doesn’t only offer currency pairs for trading. Many brokers also provide the option to trade commodities. One of the most popular assets among traders—both in the Forex market and in real life—is gold. In the market, gold is represented by the symbol XAU, and it is typically traded as the pair XAU/USD.
