What are the types of currency pairs? What are the differences between major | crossover | minor currency pairs?

　　Major Currency Pairs: For major currency pairs, you will find different definitions. Some would say that all currency pairs including the US dollar are major currency pairs. However, major currency pairs are the most traded currency pairs and therefore include major international currencies that match the US dollar. We can safely say that major currency pairs are: EUR/USD, USD/JPY, USD/CHF, GBP/USD, AUD/USD, USD/GBP. Basically, major currency pairs are the most traded currency pairs.

　　crosscurrency pair: Historically, when we wanted to exchange one currency for another, it was first necessary to exchange the currency to be exchanged for the US dollar, and then the US dollar for the target currency. Therefore, any currency that needs to be exchanged for another currency must go the US dollar route. This process changes when other international currencies, i.e. EUR, GBP, JPY, AUD, CAD, CHF become strong. The exchange of these currencies with other currencies does not have to follow the route of the US dollar and can be directly exchanged. Currency pairs that include these currencies are called major cross currency pairs, such as GBP/JPY, EUR/JPY, and AUD/JPY, etc. The other is the Euro cross currency pair, which is nothing more than a currency pair that includes the above currencies and the Euro.

　　Minor currency pairs: The remaining currency pairs are minor currency pairs with relatively low liquidity and trading volume.