The foreign exchange market dwarfs the liquidity of every other traded market by a substantial margin, with more than $5 trillion in average daily volume. As any experienced forex trader will tell you though, the vast majority of that volume flows through just a few major currency pairs. According to the 2013 Bank for International Settlements triennial central bank survey, fully 65% of the volume flowed through the "major" currency pairs: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, and USD/CHF. Beyond these majors, so-called "crosses" between two major currencies (e.g., EUR/GBP or EUR/JPY) accounted for the majority of the remaining volume.
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