When it comes to the currencies that are actively traded in the Forex markets did you know that there are about 200 different currencies that represent the many nations that are part of the global Forex and financial market? If you were not aware of this fact there is nothing wrong with that. For those that are totally new to Forex trading there are only a few currencies that you really need to know about to start out with. These are referred to as the Major Currencies, the Minor Currencies and also Cross Currencies.
The Major Currencies are as follows: the U.S. Dollar – USD is its symbol, the Euro – EUR, Great Britain Pound – GBP and the Japanese Yen- JPY. The Minor Currencies include these: the Canadian Dollar – CAD, New Zealand Dollar – NZD as well as the Australian Dollar – AUD. These are only three of the hundreds of currencies that you will find out there in the Forex trading markets. It would take far too long and too much space to actually go through and list every single currency that is actively being traded on the Forex markets as there are over 200 different minor currencies and as many as 400 different minor currencies out there in the world.
The last term that you will hear related to currencies is Cross Currency. Simply put a Cross Currency is any currency pair that does not have the U.S. Dollar as one of the pair. This is as common a term in Forex trading as the others are.
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