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USD American Dollar
list of Major Currencies includes all those currencies that
6:18 AMlist of Major Currencies includes all those currencies that
are most actively traded in the market.
USD American Dollar
EUR International European Currency — Euro
AUD Aussie Australian Dollar
CAD Canadian Dollar
GBP British Pound Sterling
CHF SWF — Swissair Swiss Frank
JPY YEN Japanese Yen
The rest currencies are considered to be the Minor Currencies.
And finally the Commodity currencies are of those countries
the internal trading of which is based on the export of raw
materials-oil gas metals etc. Actually there is a quite large
range of such currencies but the most important ones are
Australian dollar Canadian dollar and the New Zealand dollar.
There is also a classification of currency pairs by the USD presence
in them. The major currency pairs are those in which
there is the U.S. dollar (as a base or as the quoted currency).
Currency pairs having USD neither in base nor in quote currency
are called cross pairs. The beginners had better trade with
the major currencies and the experienced traders deal with
cross pairs as for effective trading with them it is required to
have good economic knowledge of different countries. Here are
some examples of cross pairs: GBP/JPY EUR/JPY and GBP/EUR.
Types of Currencies: Major Minor and Commodity
The cost of the base currency is measured by the quoted currency
with certain accuracy. This accuracy or the minimum
increment value of the currency price change is called a pip.
For example the cost of most currency pairs is given with
an accuracy of 0.0001. But there are exceptions
should also be noted that now in many trading terminals the
value of currencies is increased by one more point (5 digits
for most pairs and 3 digits after the coma for the Yen pairs).
CURRENCY THE MAIN TRADED INSTRUMENT
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