Most Traded Currencies: A Look at the Top Six
The forex market is the largest and most liquid market globally, with trillions of dollars being traded daily between various participants. To understand this market—also known as foreign exchange or currency trading—it’s essential to become familiar with the most commonly traded currencies. Below is a look at six major currencies, including their key traits and characteristics.
Key Points
Forex is the world’s largest and most liquid financial market.
The U.S. dollar is the most dominant currency, but the euro, Japanese yen, Australian dollar, Canadian dollar, and British pound are also actively traded.
The U.S. dollar is often involved in popular currency pairs and serves as a global reserve currency, making it central to currency trading.
The Japanese yen is the most traded Asian currency, partly because of its role in the carry trade.
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