Currency pair

A currency pair prices one currency in terms of another — for example, EUR/USD is how many US dollars one euro buys. The first currency is the base; the second is the quote. When you buy EUR/USD you’re buying euros and selling dollars at the same time.

Pairs are grouped into majors (the most-traded, like EUR/USD, GBP/USD, USD/JPY), minors (crosses without the US dollar), and exotics (a major against an emerging-market currency, usually with wider spreads).

Price moves are measured in pips, and each pair shows a bid and ask.