To be a successful forex trader, it is essential to understand the characteristics of currencies. Although there are a large number of currencies available for trading in the forex market (see the Currency Acronyms), most trading transactions are done on a selected few of the more widely accepted currencies, namely the currencies of major powers, such as EUR/USD, GBP/JPY, or USD/CHR. Because of its financial soundness and economic and political background, each currency tends to carry certain…
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