FOREX 101
Published
Aug 15 2014 at 12:00 AM GMT
Key
Points
Points
- MoneyTipsThe Foreign Currency Market, often called the FOREX or FX market, is a marketplace for the buying and selling of currencies, which are considered a form of commodity.
- Investors make or lose money based on changes in the value of relative currencies.
- Trades on the FOREX market are made in currency pairs " you are buying or selling one type of currency in exchange for another.
- The US dollar (USD) is the currency most often used as the base.
- Other commonly traded currencies are the Euro (EUR), Japanese Yen (JPY), British pound (GBP), Swiss Franc (CHF), and the Canadian, Australian, and New Zealand dollars (CAD/AUD/NZD).
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- Published Aug 15, 2014 12:00 AM GMT