JustChartsMajor, Minor and Exotic Currency Pairs: What’s the Difference?
Major pairs are the seven most traded pairs, all including the US dollar: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD. Minor pairs (crosses) pair two major currencies without the dollar, such as EUR/GBP or GBP/JPY. Exotic pairs combine a major currency with an emerging-market currency, such as USD/TRY or USD/ZAR, and have wider spreads.
Key facts
- Major pairs
- 7, all with USD
- Most traded pair
- EUR/USD
- USD share of trades
- on one side of almost 90%
- Minors (crosses)
- e.g. EUR/GBP, EUR/JPY, GBP/JPY, AUD/NZD
- Exotics
- e.g. USD/TRY, USD/ZAR, USD/MXN, USD/SGD
How to read a currency pair
In EUR/USD, the euro is the base currency and the dollar is the quote currency. A price of 1.1000 means one euro costs 1.10 dollars. Buying the pair means buying euros and selling dollars.
The seven major pairs
| Pair | Nickname | Currencies |
|---|---|---|
| EUR/USD | Fiber | Euro / US dollar |
| USD/JPY | The yen | US dollar / Japanese yen |
| GBP/USD | Cable | British pound / US dollar |
| USD/CHF | Swissie | US dollar / Swiss franc |
| AUD/USD | Aussie | Australian dollar / US dollar |
| USD/CAD | Loonie | US dollar / Canadian dollar |
| NZD/USD | Kiwi | New Zealand dollar / US dollar |
Minor pairs (crosses)
Crosses combine two major currencies other than the dollar, such as EUR/GBP, EUR/JPY, GBP/JPY, EUR/CHF, AUD/JPY and AUD/NZD. They are liquid, but spreads are usually wider than on majors.
Exotic pairs
Exotics pair a major with a currency from a smaller or emerging economy — USD/TRY, USD/ZAR, USD/MXN, USD/SGD, EUR/PLN. Expect wider spreads, bigger swaps, sudden gaps and lower leverage limits.
Which pairs are best for beginners?
Majors, especially EUR/USD, because they have the tightest spreads, the most data and the most predictable trading hours. Trade them during the London–New York overlap for the best liquidity.
Frequently asked questions
What are the 7 major currency pairs?
EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD.
Which currency pair is most traded?
EUR/USD, which accounts for roughly a fifth to a quarter of all global forex turnover according to the Bank for International Settlements surveys.
Why is GBP/USD called “Cable”?
The nickname dates from the 19th century, when the exchange rate between London and New York was sent over a transatlantic telegraph cable.
Are exotic pairs risky?
They are generally riskier: lower liquidity, wider spreads, higher swaps and a greater chance of sharp moves on political or economic news.
Put it into practice
Live charts, an economic calendar and trading calculators — free with a JustCharts account.
Open live charts for any pairThis article is for education only and is not financial advice. Trading leveraged products carries a high risk of losing money. Contract sizes, trading hours and leverage limits vary by broker and country — always check your own broker’s specifications.