Forex Rates For 6 Major Currencies
In Foreign Exchange (Forex), the most actively traded pairs are those designated as majors.
Even though their rates or prices can fluctuate widely, they are generally more stable. Educating yourself about the major currency pairs is essential to a solid Forex education. Currencies from the world’s largest economies form the basis of major currency pairs. There are traditionally six major pairs of currencies as mentioned below with their rates:
The prominence of the US dollar in the majority of the major currency pairs listed below is particularly striking ,Plus, these are the currencies rates that account for the vast majority of trading activity on the Forex market. Look at these currency pairs and their rates on your broker’s platform and you’ll see that they have the tightest spreads and the most consistency. Even among more seasoned investors and traders, there is a strong preference for major currency pairs
Forex Rates For Minor Currencies
When trading against each other, two different currencies are used and their rates observed; however, most professional traders in the foreign exchange market do not differentiate between minor currencies and cross currencies or minor rates or cross currency rates. Minor currencies are defined as any currencies that are traded against each other but not against the US Dollar. However, in order to be considered a Minor currency, a currency must also include at least one of the Major currencies