The eight most commonly traded currencies are:

  1. USD (U.S. Dollar)
  2. EUR (Euros)
  3. GBP (Great Britain Pound)
  4. AUD (Australian Dollar)
  5. JPY (Japanese Yen)
  6. CHF (Swiss franc)
  7. CAD (Canadian Dollar)
  8. NZD (New Zealand Dollar)

The eight most commonly traded currencies form the seven major currency pairs. These seven majors dominate the forex market in terms of traded volume. Since January 2012, it is estimated that the seven majors account for over 85% of the daily traded volume in the forex market.

These seven major currency pairs are:

  1. EUR/USD:
    Euro versus U.S. Dollar-nick name Euro or Fiber. Fiber derives from the fact that the GBP/USD pair is called cable, so the traders upgraded the old telecommunications cable that connects UK to US to fiber cable, as well Eurozone has one of the greatest optical fiber networks in the world.
  2. USD/JPY:
    U.S. Dollar versus Japanese yen-nick name Yen or Ninja, as Ninja came from Japan.
  3. GBP/USD:
    Great Britain pound versus U.S. Dollar-nick name Cable, the best known in Forex. It derives from the steel cable under Atlantic that enabled the telegraphic messaging with currency prices between London and New York.
  4. AUD/USD:
    Australian dollar versus U.S. Dollar- nickname Aussie or Ozzie, depending on the pronunciation between UK and US English.
  5. USD/CHF:
    U.S. Dollar versus Swiss franc-nick name Swissy.
  6. USD/CAD:
    U.S. Dollar versus Canadian dollar-nick name Loonie or The Funds. The Loonie comes from the bird that is on the Canadian 1-dollar coin and The Funds was a term used to differentiate the CAD deposits from USD ones.
  7. NZD/USD:
    New Zealand dollar versus U.S. Dollar-nick name Kiwi, how New Zealanders are often referred to as.