The exchange rate between any two currencies considered non-standard in the country where the currency pair is quoted. For example, in the U.S., a GBP/JPY quote would be considered a cross rate, but in Great Britain or Japan it would be one of the primary currency pairs traded. Currency pair: The two currencies that make up a foreign exchange rate. For example, U.S. dollar/Japanese yen (USD/JPY) is a currency pair. Trading a currency pair involves the simultaneous buying of one currency and selling of another.
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