A currency pair is two different currencies, with one currency's value being quoted against another. The first listed currency is called the base currency, and the second is the quote currency. Liquidity and tight spreads are enticing as large trades can be made without causing major impacts on the market. The currency with the higher interest rates will see an increase in demand because higher interest rates give a better return on an initial investment.
Economic growth drives the strength of currencies so in this case if the UK economy is growing at a faster rate than the US, the pound will strengthen against the dollar and vice versa. The value of the Australian dollar is entwined with the value of its exports as raw materials such as iron and coal account for a significant amount of the country's GDP.
With AUD reliant on these commodities, trading AUD can be profitable when the value of these goods is up as it strengthens the currency against the dollar. Dashboard Dashboard. Tools Tools Tools. Featured Portfolios Van Meerten Portfolio. Site News. Market: Market:. Currencies Menu. Today's Forex Performance Leaders.
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The first listed currency is called the base currency, and the second is the quote currency. EUR/USD. EUR/USD is the most traded currency pair. The Top 10 Forex Currency Pairs · 1. EUR/USD · 2. GBP/USD · 3. USD/JPY · 4. AUD/USD · 5. EUR/GBP · 6. USD/CAD · 7. USD/CHF · 8. NZD/CHF. Double (or triple) top (or bottom) chart patterns suggest a weak forex trend or a price reversal.