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Each of the major currencies has its own personality. Knowing what happens in each of these characters will be best prepared to exploit the trends for couples.
Some coins are heavily influenced by changes in interest rates, other currencies, not so much. Some coins are extremely sensitive to changes in commodity prices or even the winds of political change. Get to know each currency by studying its characteristics below.
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USD – U.S. Dollar
The USD is the world’s reserve currency. Central banks hold many, many dollars for the financial operations and through the acquisition of goods. This makes the USD very sensitive to changes in interest rates.
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The United States is a debtor nation, meaning that it must borrow a lot of capital to operate. Again, this makes the USD very sensitive to interest rates.
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The U.S. consumer and consequently imports much more than it exports. The United States has consistently run a large trade deficit. The most important import is energy, particularly crude oil. oil prices generally result in a weak USD.
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The United States is a politically sensitive country. This exposes the USD to political risks, such as changes in government and taxes. In addition, the United States regularly flexes its military power around the world, which may cause the dollar to weaken when a conflict erupts.
EUR – €
The U.S. $ is extremely sensitive to changes in interest rates. This is because the euro is emerging as a major reserve currency, replacing the dollar in most cases.
The EUR is equally sensitive to economic growth. The region usually late the rest of the world in GDP growth, which can sometimes weaken the euro. The EUR is supported by an extensive collection of countries that often have different views and monetary policy. These differences often manifest in the weakness in the EUR.
The EU is frequently growing as more and more countries join. This has its advantages and disadvantages.
GBP – British Pound
The GBP is one of the most popular currencies in the world because of the monetary policy predictable and the United Kingdom. The GBP leads in general a relatively high interest rate. The UK economy relies heavily on consumer spending, which means that the employment situation, retail sales and housing data are all important statistics to consider when trading the GBP.
Japanese Yen – JPY
The JPY is sensitive to changes in exchange rates because the rate is a major exporter of manufactured goods. The Bank of Japan is known for managing the JPY because the country relies so heavily on exports to drive growth.
The country is very small and short on natural resources. Of course, Japan imports a large quantity of commodities, including energy, metals and other raw materials.
The JPY is known to be a very low interest rate because of slower domestic growth.
Currency Characteristics Summary
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There are countless examples where understanding the characteristics of a coin may help to identify opportunities in the forex market. The more you know the economies of individual countries or regions, the better prepared you will be to identify opportunities in the forex market. Take time to study the economies of these countries or regions. It will pay down the road.
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