Hello, the so-called "base currency" of foreign exchange speculation is not the base currency in monetary policy, but the first currency in any currency pair. The exchange rate shows the value of the first currency relative to the second currency. Let's give an example. If the exchange rate of USD/CAD is 1.0862, it means that 1 USD equals 1.0752 USD. In the foreign exchange speculation market, the US dollar is generally regarded as the base currency in the quotation, which means that all quotations indicate how many other currencies 1 US dollar equals. But in the foreign exchange market, the pound, euro, Australian dollar and New Zealand dollar are exceptions.

At present, the eight most frequently traded currencies are called major currencies, namely USD (US dollar), EUR (Euro), GBP (British pound), CAD (Canadian dollar), JPY (Japanese yen), NZD (New Zealand dollar), CHF or SFR (Swiss franc) and AUD (Australian dollar). All other currencies are called secondary currencies. At present, the foreign exchange market mainly analyzes five currencies: US dollar, Japanese yen, British pound, euro and Swiss franc. These currencies are the most liquid in the world and the most suitable for trading.