Forex Currency Quotes |
The US dollar is usually considered the base currency for quotes. In other words, when the base currency is USD, we think of the quote as telling us what a US dollar is worth in that other currency. When USD is the base currency and the quote goes up, it means that the USD has strengthened in value and the other currency has weakened. This also means that the dollar can now buy you more of the currency that before. If you were looking at the graph, you would see a graph going up left to right. When the US dollar is the base currency and it looses value against the other currency, the quoted value will be smaller, thus the dollar is now able to buy you far less of the other currency that before. If you were looking at the graph for the two currency, you would see the graph going down from left to right. Cross currencies - are currency pair that does not involve the USD, the idea still remains the same as when you are dealing with the USD and another currency. In other words, your quotes still have the two sides:
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