The most popular currencies on Forex and facts about them.

1. The Most Traded Currencies
on Forex
US Dollar
Euro
Japanese Yen
British Pound
Australian Dollar
Canadian Dollar
Swiss Franc
Chinese Yuan
Mexican Peso
Swedish Krona
The American economy is one of the
largest in the world, and the United
States is one of the most influential
countries in the world. The US dollar is
the world’s main reserve currency, has
the biggest share in international trade.It
is the leader in the foreign exchange
market, more than half of all transactions
account for the dollar.
Did you know?
The dollar is also commonly
referred to bucks. No one knows the
origin of this nickname. One of the
versions is that the “buck” is derived
from the “buckskin” – the skin of a
deer, which the American Indians
used as a currency in those days.
Another nickname for the US dollar
is “greenback”. During the American
Civil War, the United States printed
450 million dollars, one side of
which was coloured with grey ink
while the reverse with green. So
people called them “greenbacks”.
Did you know?
The EUR/USD currency pair is nicknamed
“fiber”. There are two variants why is it called
so. Some say that this term was derived from
the Transatlantic fiber-optic cable through
which data was transmitted, while others
believe that EUR/USD was named “fiber” as
euro banknotes were printed on cotton fiber.
Did you know?
“Trading the Ninja” means trading the USD/JPY currency pair.
Maybe, this currency pair got such nickname as Ninja came
from Japan. The USD/JPY pair is nicknamed Yen as well.
The next most traded currency is the
Japanese yen – the monetary unit of Japan.
Yen is traded along with the US dollar, pound,
and euro. Currency pairs with Yen are actively
traded during the Asian session, but Yen can
also be active in other sessions depending on
what economic data is released.
Euro is the single currency of the European Union and is the second
most traded currency in the world after the US dollar. It is also a
primary or secondary reserve currency. The Euro is traded in all
trading sessions, but the biggest trading volumes are observed
during the European and American sessions. As the Euro is a
national currency in many European countries, it is necessary to
follow the political events and macroeconomic statistics within the
Eurozone when trading currency pairs with Euro.
There is a variety of currencies on Forex, but only a few are the most
traded ones. Keep reading and you’ll find out which currencies
receive the maximum trading volume.
The British pound is the fourth-most traded currency. The
most common currencies that trade in terms of the pound
are the US dollar (GBP/USD), the euro (EUR/GBP), the
Swiss franc (GBP/CHF). The GBP/JPY currency pair has the
highest volatility and shows strong movements. So, take
into account its volatility, if you decide to trade these pair.
The main trading activity falls on the European and
American sessions.
Did you know?
The GBP/JPY currency pair is known as Cable. In the
middle of the 19th century, the transactions were
transferred to America through the transatlantic cable.
The Australian dollar is considered to be the commodity
currency. The economy of Australia is very dependent on
the export of natural resources. Therefore, weather
conditions can affect the Aussie. Australia is rich in gold
deposits, so the Australian dollar is highly correlated with
gold prices. The Aussie’s rate directly depends on the world
prices of gold. I also recommend you to follow the
economic reports from China. Australia and China are
important strategic partners.
Did you know?
To distinguish the Australian dollar from other
dollars, it is commonly referred to the Aussie or
Ozzie just like people from Australia. Ozzie is just
the variation, as there is the difference in the
pronunciation between UK and US English. This
term is also used for the AUD/USD currency pair.