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1.6%y flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.

Currencies are traded against one another in pairs. Each c

RUB (₽)urrency pair thus constitutes an individual trading product and is traditionally noted XXXYYY or XXX/YYY, where XXX and YYY are the ISO 4217 international three-letter code of the currencies involved. The first currency (XXX) is the base currency that is quoted relative to the second currency (YYY), called the counter currency (or quote currency). For instance, the quotation EURUSD (EUR/USD) 1.5465 is the price of the Euro expressed in US dollars, meaning 1 euro = 1.5465 dollars. The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).

The factors affecting XXX will affect both XXXYYY and XXXZZZ

11.8%
5
Australia Australian dollar
AUD ($)
8.6%
6
Switzerland Swiss franc
CHF (Fr)

2
European Union Euro
EUR (€)
33.4%
3
Japan Japanese yen

achieved today in life was a result of that dedicated study alone. Vijay would always advice that one should dissolve so intensely in the study of a subject that any discussion among them should

But, perhaps, today he had called her here to discuss about something radically different. Actually, that was her genuine expectation. It was the issue that both of them had never discussed among

5.2%
7
Canada Canadian dollar
Russia Russian ruble . This causes positive currency correlation

Trading characteristics[edit]
Most traded currencies by valuebetween XXXYYY and XXXZZZ.

Bureaux de change or currency transfer companies prov

Money transfer/remittance companies and bureaux de change[edit]
Money transfer companies/remittance companies perform high-volum

Non-bank foreign exchange companies offer currency

International parity conditions: Relative Purchasing Power Parity