Major, minor and exotic currency pairs
Not all currency pairs behave the same. Which group a pair belongs to tells you a lot about its cost, how smoothly it moves and how risky it can be for a beginner.
By the TradeFather education team · Updated 27 Oct 2026 · Educational content, not financial advice
- Majors all include the US dollar and are the most traded pairs.
- Minors (crosses) pair two major currencies without the dollar.
- Exotics pair a major with an emerging-market currency and usually cost more to trade.
- Beginners often start with one or two majors such as EUR/USD.
The 7 major pairs
The BIS 2022 survey found the US dollar on one side of about 88% of all forex trades, which is why the majors are the deepest and cheapest pairs to trade.
| Pair | Nickname | Typical character |
|---|---|---|
| EUR/USD | Fiber | Most traded pair, usually the tightest spread |
| USD/JPY | Gopher | Sensitive to US and Japanese interest rates |
| GBP/USD | Cable | Larger daily moves than EUR/USD |
| USD/CHF | Swissie | Often seen as a safe-haven pair |
| AUD/USD | Aussie | Linked to commodities and China demand |
| USD/CAD | Loonie | Often moves with oil prices |
| NZD/USD | Kiwi | Linked to dairy and risk sentiment |
Minor (cross) pairs
Crosses combine two major currencies without the dollar, such as EUR/GBP, EUR/JPY and GBP/JPY. Spreads are usually a little wider than the majors, and yen crosses like GBP/JPY can move sharply.
Because neither side is the dollar, calculating pip value for a USD account needs an extra conversion rate — the pip value calculator handles this.
Exotic pairs, including USD/INR and USD/PKR
Exotics pair a major currency with an emerging or smaller economy, such as USD/TRY, USD/ZAR, USD/INR or USD/PKR. Expect wider spreads, higher swap costs and sudden jumps around local policy news.
In India, rupee pairs such as USD/INR, EUR/INR, GBP/INR and JPY/INR are traded on recognised exchanges through SEBI-registered brokers. Read the country guides before choosing a provider.
Which pairs suit beginners?
Learn one or two majors deeply instead of watching twenty charts.
EUR and GBP pairs move most during the London and New York sessions.
A wide exotic spread can swallow a small target entirely.
Frequently asked questions
+What are the major currency pairs?
EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD and NZD/USD.
+Is USD/INR a major pair?
No. It is usually classed as an exotic or emerging-market pair.
+Which pair is best for beginners?
Many beginners start with EUR/USD because it is liquid and usually has the lowest spread.