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  FOREX or The             FOReign EXchange rate market is an international market where             various currency exchange transactions take place; this is in the             shape of simultaneously buying one currency and selling another. The             most commonly traded currencies are referred to as “Majors”; over             85% of daily transactions on Forex trading involve the Majors. These             seven currencies are the US Currency (Dollar, USD), Japanese Yen             (JPY), Euro (EUR), British Pound (GBY), Swiss Franc (CHF), Canadian             Dollar (CAD) and Australian Dollar (AUD). The Forex system in             operation today was established in the 1970s when free currency             exchange rates were introduced, this period also saw the US Dollar             overtake the British Pound as the benchmark currency. Prior to this             and in particular during World War II, exchange rate remained more             stable.Forex trading in simplest terms is the buying of one currency             and the selling of another. Forex trading, also referred to, as “FX”             is open to corporations, small businesses, commercial banks,             investment funds and private individuals, it is the largest             financial market in the world averaging a daily turnover of over $1             trillion dollars, making it a diverse and exciting market. It is a             24-hour market enabling it to accommodate constant changing world             currency exchange rates . According to New York time, trading begins             at 2.15pm on Sunday in Sydney and Singapore and progresses through             to Tokyo at 7pm, London at 2am and reaches New York at 8am. This             leaves investors free to respond to global political, economic and             social events when they take place, day or night. Forex and World             Currency Exchange             Rates                          In this market of currency exchange , the value of major currencies             change continually, investors hope to make a profit from the             purchase of stronger currencies. If an investor has bought a             currency that appreciates in value, a profit will be earned by             ‘closing the position'. Closing the position simply refers to the             selling back of the appreciated currency in order to collect your             profit. These currencies are traded in pairs for example US Dollar/             Japanese Yen (USD/JPY) or EURO/ British Pound (EUR/GBP), trading in             pair's values one currency against another, establishing a rate of             worth for a global exchange rate. Currency can hold no value unless             it has something with which to be         compared.