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Most major world currencies fluctuate freely on the currency exchange market, in contrast to the so-called “pegged currencies”, which are tied to another major currency. The two common types of a fixed rate foreign exchange regime include a fixed and unconvertible exchange rate, and a fixed and convertible exchange rate. The first method of fixing the exchange rate involves a ban on the free conversion of the local currency into a foreign currency while the second one features free market for foreign exchange but fixes the exchange rates of the local currency.

The floating exchange rate regime allows the currency rates to fluctuate according to the market supply and demand. Fixed currency rates are usually pegged to one of the major currencies.

One of the pillars of the status of the United States as a global super power is its currency, the U.S. dollar, which served as a major international reserve currency in the decades following the World War 2. Recently, the U.S. dollar faces increasing pressure from a newborn currency; namely, the common European currency, the euro, which is evolving into a new major reserve currency and this situation affects the euro currency rate against the dollar.

Forex is a foreign exchange market that trades on a global basis. It is a big money business that is attracting investors all over the globe, including newcomers.

Forex trading is a professional job. It requires much discipline and skill to tame the wild beast called global economy and the surprises that it tends to bring. You definitely do not want lousy partners for such a challenging task.