Forex Trading Charasteristics?
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. The main trading centers are in London, New York, Tokyo, Hong Kong and Singapore, but banks throughout the world participate. Currency exchange happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.
| Rank | Currency | ISO 4217 code | Symbol | % daily share (April 2004) |
|---|---|---|---|---|
| 1 | United States dollar | USD | $ | 88.7% |
| 2 | Euro | EUR | € | 37.2% |
| 3 | Japanese yen | JPY | ¥ | 20.3% |
| 4 | British pound sterling | GBP | £ | 16.9% |
| 5 | Swiss franc | CHF | Fr | 6.1% |
| 6 | Australian dollar | AUD | $ | 5.5% |
| 7 | Canadian dollar | CAD | $ | 4.2% |
| 8 | Swedish krona | SEK | kr | 2.3% |
| 9 | Hong Kong dollar | HKD | $ | 1.9% |
| 10 | Norwegian krone | NOK | kr | 1.4% |
| Other | 15.5% | |||
| Total | 200% | |||
| *Source Wikipedia. | ||||
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