Syntax and Quotation
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217. The major currencies and their designation in the foreign exchange market are the US dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).
As has been mentioned previously, the quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. If the quote changes from EUR/USD 1.2500 to 1.2510, the euro has increased in relative value, because either the dollar buying strength has weakened or the euro has strengthened, or both. On the other hand, if the EUR/USD quote changes from 1.2500 to 1.2490 the euro is relatively weaker than the dollar.
Read more about this topic: Currency Pair
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