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- What are Crosses and Exotics?
So, in our previous article, we had a look at the popular currency pairs (the Majors), as well as their main characteristics and nicknames.
We didn’t point out, however, a very significant similarity between those pairs.
They were all linked with the US Dollar!
Yeah, this kinda makes sense since the US Dollar is like the “Prom Queen” of currencies, but what about other currency pairs?
Well, let’s explore two more groups of currencies; the Crosses and the Exotics.
The Crosses
The Crosses basically don’t have the US Dollar as one of the two currencies, and they are more volatile compared to the Majors with wider price movements. Crosses can be also more expensive to trade compared to the Majors.
Some examples of Crosses, are:
- EURGBP (Euro - British Pound)
- GBPJPY (British Pound - Japanese Yen)
- AUDNZD (Australian Dollar - New Zealand Dollar)
- EURCHF (Euro - Swiss Franc)
The Exotics
Now, let’s move on to the Exotics. This category consists of one of the Major currencies and a currency of a developing economy, such as:
- EURZAR (Euro - South African Rand)
- USDMXN (US Dollar - Mexican Peso)
- GBPHUF (British Pound - Hungarian Forint)
- USDTRY (US Dollar - Turkish Lira)
Interestingly, Exotics are more volatile, and thus riskier to trade. So the cost of trading is higher compared to the Majors and the Crosses. Of course, as they say, the higher the risk, the higher the return.
But nonetheless, you should trade sensibly, carefully and always protect your capital!
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