Foreign exchange consists of a simultaneous buying of one currency and selling of another. Currency is traded in pairs, in other words, one currency is traded for another. The major currencies are:
USD — United States Dollar
EUR — Euro members Euro
JPY — Japan Yen
GBP — Great Britian pound
CHF — Switzerland franc
CAD — Canadian dollar
AUD — Australia dollar
There are 2 types of investors involved in the Forex market.The first type of investor is the hedger. The hedger is involved in International trades and utilizes Forex trading to protect their interest in a transaction from adverse currency fluctuations. The 2nd type of investor is the speculator who invests in currency solely for profit.
Friday, August 22, 2008
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