ZAforexThe major forex pairs
| Pair | Nickname | Notes |
|---|---|---|
| EUR/USD | Fiber | Most traded pair in the world; tightest spreads |
| USD/JPY | Gopher | Driven by US–Japan rate gap |
| GBP/USD | Cable | Volatile, active in the London session |
| USD/CHF | Swissie | Safe-haven franc |
| AUD/USD | Aussie | Commodity and China-sensitive |
| USD/CAD | Loonie | Moves with oil |
| NZD/USD | Kiwi | Dairy and risk-sensitive |
Popular crosses (minors)
Pairs without the US dollar: EUR/GBP, EUR/JPY, GBP/JPY ("the Dragon", very volatile), EUR/CHF, AUD/JPY, EUR/AUD and GBP/AUD.
Exotic pairs, including the rand
A major currency against an emerging-market currency: USD/ZAR, EUR/ZAR, GBP/ZAR, USD/TRY, USD/MXN. Exotics have wider spreads, bigger swaps and sudden moves, but they trend strongly.
Most volatile forex pairs
Typically GBP/JPY, GBP/NZD, GBP/AUD, USD/ZAR, USD/TRY and XAU/USD. Volatility changes over time, so check the average daily range before trading.
Currency correlations
Some pairs tend to move together: EUR/USD and GBP/USD (positive), EUR/USD and USD/CHF (negative), AUD/USD and gold (often positive), USD/CAD and oil (negative). Holding several highly correlated trades multiplies your risk.
Best forex pairs for beginners
EUR/USD and USD/JPY: high liquidity, low spreads and lots of free analysis. Add USD/ZAR once you understand its volatility, because it reacts to South African news you already follow.
Frequently asked questions
How many forex pairs are there?
Brokers typically offer 40–80 pairs. There are 7 majors and 28 commonly traded pairs between the 8 major currencies.
Is USD/ZAR a major pair?
No, it is an exotic pair: a major currency against an emerging-market currency.