Making Sense of the Forex Market

You've probably heard a lot of buzz lately about "Forex trading". Forex (also known as Foreign Exchange or FX) is the foreign exchange market where one currency is traded for another. By far, it's the largest market in the world in terms of cash value traded and has several key players:

• Large financial institutions
• Banks
• Currency speculators
• Governments
• Multinational Corporations

The Forex market is always open; 24 hours a day, seven days a week. Here is a list of the major currencies traded:

• US Dollar (USD)
• Japanese Yen (JPY)
• Euro (EUR)
• Canadian Dollar (CAD)
• Australian Dollar (AUD)
• Swiss Franc (CHF)
• British Pound (G&P)

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