n Forex instead of dozens of currencies, the main countries trade in seven – U.S. dollars, Australian dollars, British pounds sterling, the Euro, Swiss Franc, Canadian Dollar and the Japanese Yen. Which are traded into pair like USD/EUR, JPY/EUR, CHF/USD. This means that the first currency (which express before/) is the base currency in that case.
Today, the Foreign Exchange Market is international and worldwide. The market is open 24 hours a day, 5 days a week, to accommodate all of the time zones for all of the major players. In the market daily about 2.5 trillion US Dollar transacted.
These now include most of Europe, the United States, and Asian markets, especially Japan. Even Australia has joined the international trading markets, and since such nations are halfway around the world from some of the other top players, time zones obviously must be taken into consideration.
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