Exotic currency pairs include one major currency and one currency from an emerging or smaller economy. Examples include USD/TRY, EUR/TRY, USD/ZAR. They have lower liquidity and wider spreads.
USD/TRY (US Dollar/Turkish Lira) is an exotic pair. It might have spreads of 10-50 pips due to lower liquidity and higher volatility.
Major currency pairs are the most traded pairs in the forex market, all involving the US Dollar. The...
Minor currency pairs (also called cross-currency pairs) are pairs that don't include the US Dollar. ...
Volatility measures how much a currency pair's price fluctuates over time. High volatility means lar...
