The foreign exchange market offers rewarding opportunities to traders because of its volatility factor. In case you have just entered this market and want to know about the most traded forex currencies, this tutorial on forex trading will be of great use to you.

USD: Short form for the United States dollar, USD is also known as the greenback and is the domestic currency of the United States of America. The currency is a benchmark that trades against other major currencies of the world, especially the euro, the British Pound, and the Japanese Yen. USD is regulated by the Federal Reserve System (also called the Fed) that has a significant role in supervising open market operations as well as monetary policy or interest rates.

EUR: Short form for euro, it is considered as the nemesis for the US dollar and regulated by the European Central Bank (ECB), which is responsible for making monetary policy decisions and interjecting at times of bank or system failures.

JPY: Short form for the Japanese Yen, the currency is regulated by the central bank to the world's second largest economy, the Bank of Japan (BOJ). The BOJ is responsible for monetary policy, currency issuance, money market operations, and data/economic analysis. The JPY is pitted against higher-yielding currencies, especially the British Pound and the United States dollar.

GBP: Short form of the British Pound, it is regulated by the Bank of England that decides on interest rates and broader monetary policy, with primary considerations of total price stability in the UK economy.

CHF: Short form of the Swiss Franc, it is regulated by the Swiss National Bank that is a corporation under a special regulation. A little over half of the bank is owned by the sovereign states of Switzerland.