There was a time when the common people hardly ever knew about forex markets, let alone know about the trading pairs.
However, in the recent years, the forex market has gained a lot of success and adoption as common investors have moved to the industry.
As the adoption for forex trades has continued increasing, people want to know what the best trading pairs are in the forex industry.
Major Trading Pairs in Forex
The forex market has abundance of trading pairs and every major forex exchange wants to offer as many of them as possible.
However, when the situation comes to offering the best trading pairs, the brokers try their best to present you with the most profitable ones.
Let us have a look at some of the major forex trading pairs that are currently on top of the list and bring in huge investments from the trades.
Even the forex brokers recommend these trading pairs to their investors so they can turn their trades into profits.
EUR/USD
The most popular and prominent trading pair in the forex market is the EUR versus the USD. The reason behind their success is their mass adoption throughout the world.
The euro and the dollar are the most traded currencies in the entire world, so a forming their pair means huge opportunities for the traders.
On a daily basis, the forex market records a trading volume of around $6.6 trillion and the EUR/USD comprises of half of that volume. This goes to show the magnanimity of the particular forex pair.
Nowadays, the pair is showing a lot of fluctuation, which is why it has become even more attractive for the investors.
USD/JPY
In the recent days, the USD/JPY pair has gained a lot of traction in the market. This is because of the economic decisions made by both countries to fight off inflation.
While the US is increasing interest rates to fight inflation, Japan is going with government intervention to save JPY’s price.
This is increasing a policy gap between both countries, thus, the value of the USD keeps rising against the JPY. Therefore, it is the best time to invest in the USD against the JPY.
GBP/USD
The next pair is the GBP/USD, which is gaining more adoption with every passing day. Initially, the US was making policies that were helping the USD gain momentum against the GBP.
Now, the UK has come up with interest hike policy that is going to push the GBP back into the competition against the USD.
Therefore, it would be a great opportunity for the investors to invest in the pair and generate profits in the long run.