A Forex quote is always a two-sided quote with a ‘bid’ and ‘offer’. The ‘bid’ is the price at which you can sell the base currency (i.e. buy the second currency). The ‘offer’ is the price at which you can buy the base currency (i.e. sell the second currency).
As mentioned before, the first currency listed is the base currency. In the major currency pairs the US dollar is traditionally treated as the base currency this includes USD/JPY, USD/CHF and USD/CAD. In this case $1 USD (the base currency) is quoted in terms of the second currency. For example, a quote of USD/JPY = 112.25 means that one US dollar is equal to 112.25 Japanese Yen.
As mentioned before, the first currency listed is the base currency. In the major currency pairs the US dollar is traditionally treated as the base currency this includes USD/JPY, USD/CHF and USD/CAD. In this case $1 USD (the base currency) is quoted in terms of the second currency. For example, a quote of USD/JPY = 112.25 means that one US dollar is equal to 112.25 Japanese Yen.
Among the major currency pairs there are three exceptions where the US dollar is not quoted as the base currency, the Euro (EUR), the British Pound (GBP), and the Australian Dollar (AUD). In these cases, you might see a quote such as GBP/USD = 1.8455, which means that one British Pound equals 1.8455 US dollars.
In both of the above examples the base currency becomes stronger when its price increases. For example if the USD/JPY rises from 112.20 to 113.20 the dollar is stronger because it is now worth more JPY.
Cross currencies are currency pairs that do not involve the US dollar. For example: EUR/GBP, GBP/AUD, EUR/JPY, etc. A quote of EUR/GBP at 0.6750 signifies that one Euro is equal to 0.6750 British Pounds.
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