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Currency Pairs

All currencies are traded as pairs, that is, one against another.

For example, Great British Pound - or Sterling - versus the United States Dollar (£/$) (sometimes known as "cable"), Euro versus the Dollar (€/$), the Dollar versus the Japanese Yen ($/¥), Euro versus Sterling (£/€), Dollar versus Swiss Franc (£/CHF), Euro versus Yen (€/¥), Australian Dollar versus U.S. Dollar (A$/$) and so on.

When any currency is described as the "Dollar" versus another currency it invariably means the U.S. dollar, unless otherwise stated.

If you are buying a currency, for example £/$, then you are buying the first currency against the second. If you are selling a currency then you are selling the first against the second.

Therefore, if £/$ is trading at 1.967 that means that for every Great British Pound you can buy 1.967 U.S. Dollars.

Were £/$ to move to 1.998 then Sterling would be said to have strengthened against the Dollar.

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