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Currency trading is the act of buying and selling foreign currencies where one currency is exchanged for another. For example, one might sell American dollars in order to purchase Japanese Yen or European Euros. There are many market forces at play including companies and governments that buy and sell products and services in a foreign country, speculators who buy and sell based on what direction they believe the currencies are headed, and central banks who influence interest rates, inflation, and other factors that affect currency values.
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Currency Experts - links
For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
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