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A currency exchange rate is always quoted in a currency pair, such as EUR/USD Euro/U. S. Dollar. All currencies are assigned an International Standards Organization ISO code abbreviation which is often used to convey the particular currencies that make up a currency pair. For example, USD/JPY indicates two currencies: the U. S. dollars to equal one pound, euro or Australian dollar. In short, if the currency quote moves higher than the value of the base currency increases. A lower quote means the base currency is weakening. It's important to remember when looking at forex that a higher currency makes a country's exports more expensive for other countries, while making imports cheaper. A lower currency makes exports cheaper and imports more expensive, so foreign exchange rates play a significant part in determining the trading relationship between two countries.
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Sometimes huge exchange rate moves may be anticipated or even predicted; in other instances it is impossible to accomplish so.
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Starting off trades, a beginner will not have any idea about platform usage and reading the market charts; a Forex broker helps him/her understand the various aspects of a trade and how to work around the markets.
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