Minor Currency Pairs

Minor Currency Pair

Now when you already know what makes a currency pair major, you must also have the knowledge of what makes a currency pair minor. A currency pair that does not include US dollar is called minor currency pair. You can also call it cross-currency pair.

Some of the minor currency pairs include EUR/GBP (EURO/Great Britain Pound), EUR/AUD (EURO/Australian Dollars), GBP/JPY (Great Britain Pound/Japanese Yen), NZD/JPY (New Zealand Dollars/ Japanese Yen), GBP/CAD (Great Britain Pound/Canadian Dollars). In forex trading, minor currency pairs normally include the EURO, Yen or Great Britain pound.

Why No US Dollar Makes a Currency Minor?

America is one of the most developed nations with excellence in trade and marketing. Hence, US dollar is the most actively traded currency in Forex trading. It has been observed that the American dollars are used to a great extent in settling international transactions. It is considered as the reserve currency of the world.

The significance of US dollar can be mapped with rest of the nations around the world struggling to take their currency value to the American dollars. In addition, whenever global central banks have to hold foreign currency reserve, they prefer holding the reserves in US dollars. Hence, USD is given a unique position in the Forex trading industry.

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