Trading acurrency pairmeans that you buy or sell the base currency against thequote currency. Thats how trading currency pairs basically works. Since there are numerous currency pairs traded daily, they are categorized as major and minor orcross pairs, according to the daily trading volume.
Major forex currency pairs are EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, and USDJPY. These major pairs are often referred by their nicknames such as Euro for EURUSD, Cable for GBPUSD, Aussie for AUDUSD, Kiwi for NZDUSD, Loonie for USDCAD, Swissy for USDCHF, and Yen or Ninja for USDJPY.
Most Popular Forex Currencies Nicknames
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U.S. Dollar (USD): Greenback or Buck
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Euro (EUR): Single currency or Fiber
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British Pound (GBP): Sterling
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British Pound / U.S. Dollar pair (GBP/USD): Cable
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Swiss Franc (CHF): Swissy
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Canadian Dollar (CAD): Loonie
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Australian Dollar (AUD): Aussie
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New Zealand Dollar (NZD): Kiwi
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British Pound / Japanese Yen pair (GBP/JPY): Guppy or Gopher
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Euro / Japanese Yen pair (EUR/JPY): Euppy
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U.S. Dollar / Japanese Yen pair (USD/JPY): Ninja
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Euro / British Pound pair (EUR/GBP): Chunnel
The Greenback or Buck
The U.S. dollar is called the greenbackbecause of the paper notes issued during the American civil war in 1861 with green coloring on the back. It was also known as the buckfrom times when a male deer, deerskin, was used by American Indians for trading with dollars. The value of the currency is measured by theUS Dollar Indexor DXY.
Fiber
This nicknamehas the least known explanation, but most probably it comes from the fact that the paper used for euro banknotes is made of pure cotton, known as fiber, which makes it more durable and gives a more distinctive feeling.
Sterling
The pound sterling is an officially alternative name for the British Pound, not just a nickname. Sometimes it is abbreviated to either pound or sterling. The name sterling came from times when the British pound had equal value to one pound of sterling silver.
Cable
The GBP/USD currency pair has been called the cable since there was a cable under the Atlantic Ocean linking the UK with the USA. This name is very common among professional forex traders.
Swissy
The swiss is a slang name for the Swiss Franc. The nickname is used to refer to both the Swiss Franc and the USD/CHF currency pair, which measures the strength of the US dollar against the Swiss Franc.
Loonie
Theloonieis a popular nickname for the Canadian dollar as the one-dollar coin has an image of a bird called aloon,which is a popular species in Canada.
Aussie
The Aussie is the common name for the Australian Dollar and the AUD/USD currency pair.
Kiwi
The New Zealand dollar is known askiwirepresenting the national symbol of New Zealand which is abird called kiwi. It is a small furry brown-colored bird just like a kiwi fruit.
Ninja
Its the nickname used for the US dollar and Japanese Yen currency pair, derived from the traditional ninja warriors, which remain such a distinguishable part of Japanese culture around the world. The currency pair is also known as the Yen.
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