Major currency pairs are the most traded pairs in the forex market, all involving the US Dollar. They include EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, and NZD/USD. They offer the highest liquidity and tightest spreads.
EUR/USD is the most traded major pair, accounting for about 24% of daily forex volume. Major pairs typically have spreads of 1-3 pips.
Minor currency pairs (also called cross-currency pairs) are pairs that don't include the US Dollar. ...
Exotic currency pairs include one major currency and one currency from an emerging or smaller econom...
Liquidity refers to how easily an asset can be bought or sold without significantly affecting its pr...
The spread is the difference between the bid price (what buyers are willing to pay) and the ask pric...
