What Are the Minor and the Exotic Currency Pairs for Trading?

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This video discusses the Minor and the Exotic currency pairs in the forex trading markets

★When a currency pair doesn’t include the US dollar (USD), it’s called a minor currency pair or a cross-currency pair.

The most widely traded minor pairs consist of
EUR (euro), the euro
JPY (yen) or the Japanese yen
GBP (British pound). Or the British pound
Some examples of minor currency pairs:
EUR/GBP — Euro/British pound
EUR/AUD — Euro/Australian dollar
CHF/JPY — Swiss franc/Japanese yen
NZD/JPY — New Zealand dollar/Japanese yen
GBP/JPY — British pound/Japanese yen
GBP/CAD — British pound/Canadian dollar
★An exotic currency pair includes a major currency and the currency of a developing economy (such as Brazil or South Africa).

A major currency + a currency of a developing economy
The most popular exotic currency pairs are:
EUR/TRY – Euro/Turkish Lira
USD/HKD – US Dollar/Hong Kong Dollar
JPY/NOK – Japanese Yen / Norwegian Krone
NZD/SGD – New Zealand Dollar/ Singapore Dollar
GBP/ZAR – British Pound / South African Rand
AUD/MXN – Australian Dollar / Mexican Peso
★Choosing the right currency pairs to trade depends on your experience as a forex trader. If you are a beginner, it’s wiser to stick with the major and minor pairs as it’s easier to find trades in these cases and you’ll get lower spreads.
Exotic pairs are considered to be less easier to work with as they’re far less liquid with higher spreads.


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DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The information contained herein is not intended to be a source of advice or credit analysis with respect to the material presented and the risk or return contained in the investment do not constitute investment advice. You should take advice from an independent financial advisor before investing.