Forex Trading Tips- Top 3 Currencies
Best Forex Trading Tips
For today’s forex trading tips, we will discuss the most common currencies. Sure, most of us know what the US dollar is, or the Euro, but how about all of the other commonly traded currencies? We will talk about the origin of the currency, its acronym, as well as a little history behinditm. Get ready while we discuss the top 3 currencies(minus the US dollar and Euro) in our forex trading tips article of the day.
For our first currency in our forex trading tips, we are going to talk about Japanese Yen (JPY). The Yen has been run by the Bank of Japan and can trace their roots to the late 1800s. The Japanese Yen is controlled with a very keen eyeand has been the staple currency for Japan for over 100 years. The Yen is usually associated with other high-yielding currencies is a very popular carry trade currency. The average pips for the Yen is usually under 50, but can get well over 100.
The Top Currencies You’ve Never Heard of
The next currency that we believe really holds its own in the world currencies is the Swiss Franc. The symbol for this currency is CHF and it’s central bank is the Swiss National Bank. The Franc is usually a slow mover with average pips from 25-40.
The last of the top currencies that we will talk about is the Canadian Dollar, or the CAD. The Bank of Canada Act was established in 1934 was it’s establishment with the Bank of Canada being the Central Bank. One of our forex trading tips that we can offer about the Loonie has to do with the pricing of oil and how crucial it is to the Loonie. Canada is a huge exporter of oil, so most people try to use the Loonie as a hedging vehicle, or speculation trading on the price of oil to grab those few pips that they can. This is why we think the CAD is a GREAT currency to get yourself involved in.
