Forex Market Jargon & Nicknames

World forex market has its own language. There are nicknames to currencies and currency pairs and there are some interesting terminologies. Knowing them is important is for a forex trader as it will help him in better understanding of news, reports and commentaries. Here are some of them with some interesting explanations.

Nicknames of Currencies

• US Dollar (USD) – Greenback and buck. The name buck came from “buckskins” which were used for trading in late 1700s, when there was no paper money.
• British Pound (GBP) – Cable, Pound and Sterling. The name cable probably came from the trans-Atlantic cable between US and Britain.
• Canadian Dollar (CAD) – Loonie and Little dollar. Loonie is the bird depicted on the Canadian coin.
• Euro (EUR) – Fiber.
• Australian Dollar (AUD) – Aussie or Ozzie. Aussie is the word now-a-days used to denote anything having an origin in Australia.
• Swiss Franc (CHF) – Swissie.
• New Zealand Dollar (NZD) – Kiwi, named after the non-flying bird found there.

Currency Pair Nicknames

• EUR/JPY – Euppy or Yuppy.
• EUR/GBP – Chunnel, as a tunnel connect Britain and France (the European continent).
• GBP/JPY – Gopher.
• USD/JPY – Ninja.

Terminologies

• Yard – is a billion unit of a currency.
• Figure – is a term denoting a round term. Eg: 1.2000 and 2.400

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