I am trying to train myself to visualize and understand how the FX currencies are relative to the USD. Typically how does one view how the US Dollar is doing?
I guess I am having a hard to understanding it based on something like this:
EUR/USD 1.52851
I know it is the equivalent to:
A) 1 Euro = 1.52127 USD
B) 1 US Dollar (USD) = 0.65735 Euro (EUR)
In this case, the Euro is stronger than the US dollars right? This means that the Euro is worth more than the USD. For every 1 Euro, it is worth $1.52 USD.
But how about in this case:
GBP/JPY 206.599
Every 1GBP is equivalent to 206.599.
It appears that the pound is very strong. However, isn’t it true that most products in Japan sell for thousands and thousands of yen, so 206.599 Yen or 1GBP really isn’t that much?
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Hi guys, I trade the foreign exchange market. I have a friend who trades the US stock markets. I noticed that there was unusually large movement on the GBP/JPY currency pair in the end of October ‘08 to the beginning of November ‘08. I trade the GBP/JPY, and have fantastic technical indicators already set up. However, I still need some good sources that might point out “the mood” surrounding this pair on any given trading night. I already use Forex Factory, and sometimes go to Bloomberg.com, but I’ve found that Bloomberg is not a great source of info for either of these two currencies. |
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