The most traded currency in the world, the US dollar dominates the world of currency and is essentially unmatched. Its strength lies in its consistent value over the long-term and the fact that it is the main currency used for international transactions.
Coming in after the US dollar is the Euro. Whilst one of the youngest currencies, it is the second most traded of all the currencies world-wide. Used by countries from Finland to Slovenia, Portugal to Zimbabwe, perhaps this is not so surprising. 500 million people across Europe and Africa use the Euro for trading. It’s importance is likely only to increase with time.
It seems the glory days of the British Pound have somewhat diminished in recent decades. Where once it was the second most widely used currency, the decline of the British Empire and the rise of the Euro has seen it recede further and further from the spot-light. Today, only 6% of all foreign exchange transactions are made in sterling. Evidently, Brexit did little to improve this.
The Yen has gained momentum in the foreign exchange market, due to the fact that its value has tripled. Japanese firms were quick to take advantage of this situation and have moved in to many purchasing positions in the US.
Created in 1966, the Australian Dollar is one of the most popular currencies for trading throughout Oceania and the Asia-Pacific region. It is currently a strong currency by world standards.