Currencies Traded in Foreign Exchange

Virtually any currency can be traded through a broker – providing it is backed by an existing nation. Currencies are defined by three letter symbols, where the first two letters stand for the name of the country and the third stands for the name of the currency. The major currencies are: the US Dollar (USD), the Euro Dollar (EUR), the Japanese Yen (JPY), the British Pound Sterling (GBP), the Swiss Franc (CHF), the Canadian Dollar (CAD) and the Australian Dollar (AUD). All other currencies are known as minors – for example the Thai Baht.