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Currency Codes3 Letter ISO Country Code
(International Organization for Standardization)
First 2 letters are the country code
Third is currency’s first letter**There are some exceptions
USD = US DollarGBP = GB Pound
JPY = JP Yen
MXN = MX Peso (New)RUB = RU RuBleEUR = EU EuRo
Anatomy of Currency PairsRelative value of currencies
Base value vs. Quote value
Base is always 1 unit
Quote value varies
Major Pairs
Most Active CurrenciesUS Dollar (USD)
Australian Dollar (AUD)
Canadian Dollar (CAD)
Euro (EUR)
Japanese Yen (JPY)
British Pound (GBP)
Swiss Franc (CHF)
How Often
86%Involve USD
37%Involve EUR
15%Involve GBP
17%Involve JPY
7%Involve CHF
Active PairsEUR/USDUSD/JPYGBP/USDAUD/USDUSD/CHFNZD/USDUSD/CAD
85% of total FX Market
$4Tn Each day gets exchanged
Higher VolumesHigher Liquidity
Low Spreads
Volatility is KING!
Minor Pairs
Less liquidity/volumeHigher spreadsMore Volatility
Minor PairsEUR/GBP EUR/CHR
CHF/JPY
EUR/NZD
CAD/JPY
GBP/JPY
AUD/JPY
EUR/AUDEUR/CAD
EUR/JPY
NZD/JPY
GBP/CHF GBP/CADGBP/AUD
Exotic Pairs
Exotic CurrenciesMexican Peso (MXN)
Indian Rupee (INR)
Singapore Dollar (SGD)
+ Lots more…
Russia Federation Ruble (RUB)
South African Rand (ZAR)
South Korean Won (KRW)
Hong Kong Dollar (HKD)
Exotic PairsUSD/ZAR
USD/MXN
USD/RUB
USD/TRY
USD/INR
USD/BRL
SmallLeast traded out of all
Lots Hundreds of them
Exotic Pairs
Notice how the majority cross with USD?Not all Exotic Pairs cross with USD though.
Common NicknamesPair Name
AUD/USD Aussie
EUR/GBP Chunnel
EUR/JPY Yuppy
EUR/USD Fiber
GBP/JPY Gopher/Guppy
GBP/USD Cable
NZD/USD Kiwi
USD/CAD Loonie/The Funds
USD/CHF Swissy
USD/JPY Yen
USD/RUB Barney
EUR/RUB Betty
Lot SizesYard = 1,000,000,000
Buck = 1,000,000
Standard = 100,000
Mini = 10,000
Micro = 1,000
Commodities & Indices
Gold(XAU/USD)
Silver(XAG/USD)
Oil(OIL/USD)
CryptocurrenciesTwo important ones
Bitcoin (XBT/USD)
Litecoin (LTC/USD)
