major pairs
The most traded pairs of currencies in the market is called major pairs they fabricate the largest share of the foreign exchange market, about 88% and therefore they exibit high market liquidity
major currency pairs in foreigh markets are:
EURUSD- EURO / USDOLLAR
USD/JPY – US DOLLAR / JAPANES YEN
GBP/USD – BRITISH POUND / US DOLLAR
AUD/USD – AUSTRALIAN DOLLAR / US DOLLAR
USD/CAD – US DOLLAR / CANADIAN DOLLAR
USD/CHF – US DOLLAR /SWISS FRANC
NZD/USD – NEW ZEALAND DOLLAR / US DOLLAR
Forex market’s turover is $6.6 trillion each day therefor it’s known as world’s most traded market.
minor pairs
When currency pairs doesn’t contain the US DOllAR its called minor currency pairs.
They are otherwise known as cross-currency pairs. The most widely traded ones include the British Pound, the Euro and the Yen
EURGBP – Euro/British pound
EURAUD – Euro/Australian dollar
GBPJPY – British pound/Japanese yen
CHFJPY – Swiss franc/Japanese yen
NZDJPY – New Zealand dollar/Japanese yen
GBPCAD – British pound/Canadian dollar
Main Difference of major and minor pair:
the major pairs trade using us dollar
the minor pairs not trade using us dollar