What is a foreign currency suitable for beginners?
What should you choose from the many currency pairs? If you can understand the characteristics of each foreign currency and manage it by making the best use of your favorite foreign currency, there is no doubt that you will be a reassuring ally in increasing assets with FX. If you buy only one foreign currency, you will be risk-intensive, so you should have multiple currencies. A closer look at foreign currencies includes major currencies that market participants buy and sell frequently, and quasi-major currencies that trade moderately, if not as much as major currencies. The difference between major and quasi-major currencies lies in the volume of transactions. Foreign currencies with less trading volume may move more rapidly in one direction. The US dollar remains the key currency that is traded globally in various aspects, such as buying and selling oil. Many items are settled in dollars. Information and analysis provided by Forex traders and economic commentators are often dollars, and it is a wealth of judgment material for beginners who want to compare various information. The euro is one of the three major currencies along with the US dollar and the yen, and the euro / dollar has the highest trading volume in the world. It can be said that it is a very straightforward currency with clear ups and downs. The New Zealand dollar and the Australian dollar are quasi-major currencies, but they are popular due to their high swap rates. Interest rates are higher in New Zealand than in the Australian dollar, but prices are volatile. In both countries, the talk of rate hikes and rate cuts will be watched. This is because interest rate issues are directly linked to swap points. The pound sterling is known as a high-risk, high-return foreign currency. For beginners’ Forex investment, once you get used to it, you only need to start working little by little.