What is Forex? Part 2

What is Forex?

The Forex market doesn't utilize very much “inside information” and the exchange rates can be based on moves that may occur related to economic conditions around the globe or flows of money around the world. Foreign exchange related news is public so the entire world reacts to it simultaneously.

What is Forex?

The Forex market trades one currency against another. You will notice that each pair of currencies has a 6 letter representation like XXX/YYY. These letters will represent a specific international code of a currency. For example, USD/JPN refers to the US Dollar (USD) and the Japanese Yen (JPN).

What is Forex?

Foreign exchange is an interbank market and is also over-the-counter. This means that there is no universal exchange rate for any pair of currencies. The Forex market is in operation 24 hours a day during business days and is mainly comprised of brokers, banks with banks, and brokers with banks.

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Link What is Forex Market?

http://www.forex-market.eoltt.com