The currency market — forex

The Markets and Their Instruments — Lesson 1 of 7

Forex is short for foreign exchange, and it is the largest financial market in the world by a wide margin: more than seven trillion dollars change hands daily. It has no central exchange and no opening bell — instead there is a global network of banks, institutions and brokers exchanging currencies around the clock.

Why are currencies quoted in pairs?

The price measures both currencies together. This is the key to many moves that look illogical.

01 — Lesson 1 of 7

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