Currency Exchange Rates @ forexrates.today

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What are The Most Traded Currencies in the Forex
Exchange Market and Why are They Traded Widely?
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Forex trading has become popular in recent years
as now many traders have come to know that forex
rate market offers many benefits to investors of
all sizes. Beginners should know the basis of the
market. One of the important step in
understanding the market is that to be familiar
with popular currencies.
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The US Dollar
It is the most traded currency in the market. It
is found in a pair with almost all main
currencies in the world. It plays main role in
triangular currency transactions as here it acts
as intermediate. All central banks and other
investment firms hold USD. This is because it is
called as global reserve currency. The U.S.
dollar has global acceptance that is why some
countries use it as their official currency.
Moreover, it is widely accepted in other nations
too. While maintaining their official currency
many countries use dollar as an informal
alternative form of payment.
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The Euro
It is not only the second most traded currency
but also the world's second largest reserve
currency. It is the official currency of the
nations which come within the Eurozone. After
dollar, some countries peg their currencies to
the USD to stabilise the currency exchange rates.
Experts say that this currency adds liquidity to
any currency pair.
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The Japanese Yen
This currency is mostly traded out of Asia. It
is known in the Forex market as a carry trade
component. Experts say that constant borrowing of
the Japanese currency has made appreciation
difficult. The Japanese yen is pitted against
higher-yielding currencies. So, according to the
investors, the investment should be done in yen
on a longer-term basis.
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The British Pound
It is the fourth most traded currency in the
world. Due to its relative value to the other
global currencies, it works as a large reserve
currency. Political events widely affect the
value of the British pound. This currency has
high-value that's why it also acts as a very
liquid component in the forex market.
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The Swiss Franc
It is considered as a "neutral" currency. It is
also referred as a safe haven in forex market as
it tends to move in a negative correlation to
more volatile commodity currencies. The Swiss
National Bank is quite active in the market to
decrease volatility and keep interest rates in
line.
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