The foreign exchange market (Forex) is always traded in pairs. Whenever you see a currency exchange rate, it will belong to a currency pair such as USD/CAD. USD/CAD indicates two currencies: the US Dollar and the Canadian Dollar.

Part of our multimedia library, learn in this video how currency pairs and bid/ask spread works in Forex to enrich your trading knowledge.

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If you would like to know more about currency pairs, bid and ask prices, cross-currencies and more, please read our complete article What is a Currency Pair.