Currency Pair - definition of Currency Pair - what does Currency Pair mean? What is Currency Pair?

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What is Currency Pair?

Definition of Currency Pair

All forex trades are based around currency pairs, i.e one currency being traded against another. A trader may see a pair expressed as USD/JPY 116.39. This means that the US Dollar (base currency) is trading against the Japanese Yen and 1 dollar will currently buy 116.39 yen.