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What is the foreign exchange market?

April 26, 2017foreign exchange market

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What is the foreign exchange market?

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The foreign exchange market, also referred to as the “forex” or “FX” market is the largest financial market in the world, with a daily average turnover of approximately US $3.6 trillion. Foreign exchange is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar (EUR/USD) or Dollar/Yen (USD/JPY) Click here to learn more about forex.

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The foreign exchange market (Forex) is the largest financial market in the world, with a daily average turnover of more than U.S. $2 trillion. Foreign exchange is the simultaneous buying of one countryï¿½s currency and the selling of another.

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The foreign exchange market is the market for buying and selling different currencies. It is primarily an over-the-counter market with trades between large commercial banks accounting for most foreign currency transactions.