History dictates that there are certain currencies that are traded quite a lot these days.
Since the world is full of different types of currencies, the question is how would people know what currency pairs to trade? Which currencies are the best to trade?
There are many different types of currency pairs. First there are major pairs. These are the currency pairs that are traded the most. They have the most transactions happening between them.
Then there are cross currency pairs. These are currency trades that occur without the United States dollar. From a trader’s perspective, these are naturally behind when it comes to trading. Finally, are exotic pairs. These are currency pairs between countries that have less economic standing.
Now, let’s take a look at the best currency pairs to trade this year.
Euro to Norwegian Krone
First of all, we have the Euro to the Norwegian Krone. This pair is not one that people can identify as major. However, there is some interest generating between these two currencies.
The Krone’s rise and fall is attached to the oil prices right now, as it is one of the biggest exports of Norway. At the same time, Europe has been creating some policies that make the trades between these pairs very viable.
US Dollar to Japanese Yen
Next up we have the US Dollar to Japanese Yen. This pair is one that can be considered major as it is one of the best traded currency pairs.
An interesting to note between these currencies is that it spikes whenever risks abound. With rising risks around the globe, the price of these currency pairs rises as well.
This year has been quite interesting with what is happening around the globe. Expect big things to happen with this currency pair.
These are only a couple of the best currency pairs to trade in 2018. We hope that these have helped shine some light on which currencies you should watch out for this year and moving forward.