Major Fx Trade Currencies

 

The major FX trade currencies to trade in FX trading market are known as majors. The currencies in FX trade which form the majors are U.S. dollar, the European euro, the Japanese yen, the British pound, and the Swiss franc. Let us know more about these major online FX trading currencies below:

 

The U.S. Dollar: The U.S. dollar is among the most traded FX trading currencies online. Despite the fact that it is not immune to fluctuation, most of the times it remains one of the main currencies in FX trade market and is considered as the basis of the world economy. Important facts to know about US dollar, one of the major FX trade currencies is that it is used to pay for oil and virtually all banks of the world  hold large dollar reserves as security. The importance of US dollar was reduced marginally with the introduction of a new currency known as Euro in the year 1999. Presently, the major currencies in FX trade which are being traded against the US dollar are the Euro, Japanese yen, and British pound Swiss franc.

 

The Euro: Euro also falls under the category of leading online FX trading currencies of the world. With its introduction in 2001, it is used as a currency in most of the European countries and is the peak of the dreams and ambitions of generations of statesmen. According to some experts of FX trade currencies, it will oust the dollar’s position as the world’s reserve currency. There are no doubt that euro is also among main FX trading currencies online and it enjoys a strong international presence right from the European Union countries to other parts of the world. However, the main issue with euro is that it has been exaggerated by unequal growth, high unemployment, and government resistance to structural changes.

 

The Yen: The currency of Japan i.e. the yen is also among the leading currencies in FX trade. The government of Japan over and over again gets involved to keep the yen at a favorable value and to ensure that Japanese exports remain competitive in world markets. The Japanese yen is considered to be highly liquid around the world, practically around the clock.

 

The Swiss Franc: The Swiss franc is known as the safe haven, meaning a place to where traders rush to in the times of global turmoil. The Swiss franc has climbed after stock market crashes and terrorist attacks. The fact that Swiss franc is among the major currencies in foreign exchange, closely shows the how strong is Swiss economy and finance despite all odds.

 

The British Pound: British pound, also called the sterling, is a popular haven outside the European countries. It was considered the currency of reference until the end of the Second World War. The pound is among important currencies in foreign exchange trading even today and is most traded currency in forex against the euro and the US dollar. However, it has a very small presence against other major currencies in foreign exchange.