Foreign Exchange, or FX as it is commonly referred to, involves the simultaneous buying of one currency and the selling of another. Currencies are traded in pairs, for example US Dollar/Japanese Yen (USD/JPY). When you buy US dollars, you are selling Japanese Yen in exchange for the US dollars. You can buy your currency from the moneychangers or go to the banks. This is the FX marketplace you are familiar with. For the majority of us, our knowledge of FX extends only to changing currency when we need it or when we want to go to another country. By changing currency, you are playing a part in this market. However, FX is much more than this, and it is a huge marketplace of which we only know a fraction. Hopefully, by the end of this book, you will
know enough of FX to trade in it.
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