The world of forex trading can be confusing and overwhelming for beginners, especially when it comes to understanding the nicknames given to various currency pairs. Most people usually know this by a number of different names. Some of these are historical events, while others are simply catchy monikers. In this article, we will explore some of the most popular forex pairs nicknames and explain their origins. 

Cable—GBP/USD

The British pound against the U.S. dollar is known as the "Cable," which is due to the transatlantic cable that was laid under the Atlantic Ocean in the 1800s. This took place under the Atlantic Ocean in the nineteenth century. This cable was for communication between London and New York and became the primary method of transmitting currency prices for merchants.

Fibre —EUR/USD

The euro against the US dollar is known as the Fiber due to the fibre optic cables used to transmit currency prices between the two continents. The United States Dollar is also known as the greenback because of the ancient paper notes during the civil war. 

Aussie—AUD/USD

The Australian dollar against the US dollar is known as the Aussie due to Australia's strong ties to the mining industry and its abundance of natural resources. The price of Gold correlates with Aussie-Dollar.

Kiwi—NZD/USD 

The New Zealand dollar against the US dollar is Kiwi due to New Zealand's national bird, the Kiwi. The bird also appears in the country's currency. Just like Aussie Dollar, Kiwi has a good relationship with Gold and Aussie. Price action and structure tend to be similar.

Loonie—USD/CAD 

The US dollar against the Canadian dollar is the Loonie due to the image of a loon, a bird native to Canada, it s on the Canadian one-dollar coin. Some refer to it as Toonie, the CAD economy is popular because of its dependency import of raw materials. 

Swissy—USD/CHF

The US dollar against the Swiss franc is the Swissy due to Switzerland's reputation as a safe haven for investors during times of market uncertainty. This pair also falls under the ‘safe-haven’ category.

Read More: Investors Anticipate CAD vs Swissie and Kiwi

Gopher—USD/JPY

The US dollar against the Japanese yen is the Gopher due to the similarity of the pronunciation of yen to the word "gennin" in Japanese, which means "year of origin". Understanding the nicknames given to forex pairs can be helpful in deciphering market news and analysis. USDJPY is the second most traded currency pair in the world.

Traders and investors can use these nicknames to quickly identify which currency pairs are currently trending and stay in the loop on the latest market trends. By incorporating these nicknames into their trading strategies, traders can gain a deeper understanding of the forex market and potentially improve their trading performance. 

Final Thoughts on Nickname Pairs

In conclusion, the nicknames given to forex pairs can provide valuable insights into the history and characteristics of each currency pair. Understanding these nicknames can help traders and investors stay informed on the latest market trends and make more informed trading decisions.

Incorporating these nicknames into your forex trading strategies can be a helpful tool in navigating the often complex and volatile world of forex trading. Looking for more educational content within the forex niche? Follow our blog today and learn from our experts.