The most elementary and perhaps the most accurate explanation for the foreign exchange market is that it is a market where people buy and sell money. Currency pairs such as the GBP/USD or the USD/JPY are simply the value of one currency against another.
The pairs represent the value of the Great British Pound against the Dollar (GBP/USD) and the US Dollar against the Japanese Yen (USD/JPY). A EURUSD (Euro to the US Dollar) quote of 1.2000 would mean that 1 Euro is worth 1.2 Dollars. Simple, right?
Niciun comentariu:
Trimiteți un comentariu