Forex Currency Pair Nicknames
The world of Forex trading is full of complex terminology, and currency pairs are no exception. While most traders are familiar with the standard currency pair names, there are a handful of secret nicknames that have been used in the industry for years. These nicknames have their origins in different contexts, such as historical events, national symbols, or even animal references.
This article will explore the stories behind the nicknames of some of the world’s most popular currency pairs.
Secret currency pair nicknames everyone should know
|
EURUSD |
Euro – US dollar |
Fibre |
|
USDJPY |
US Dollar – Japanese yen |
Gopher |
|
GBPUSD |
British pound – US dollar |
Cable |
|
USDCHF |
US dollar – Swiss franc |
Swissie |
|
AUDUSD |
Australian dollar – US dollar |
Aussie |
|
USDCAD |
US dollar – Canadian dollar |
Loonie |
|
NZDUSD |
New Zealand dollar – US dollar |
Kiwi |
|
EURGBP |
Euro – British pound |
Chunnel |
|
GBPJPY |
British pound – Japanese yen |
Guppy |
|
EURJPY |
Euro – Japanese yen |
Euppy |
|
USDRUB |
US dollar – Russian ruble |
Barnie |
|
EURRUB |
Euro – Russian ruble |
Betty |
EURUSD – Fibre
The EURUSD pair is the most traded currency pair in the world. It represents the eurozone and the United States. The nickname ‘Fibre’ has two legends behind it. One suggests that the name comes from the euro banknotes made of pure cotton fibre, which makes them more durable. The other legend is that ‘Fibre’ came from the extensive use of fibre optic cables in transmitting information about the exchange rate of the euro and the US dollar.
An interesting fact:
The US dollar is also known as the ‘greenback’ due to the distinct green color of its paper bills in 1861.
USDJPY – Gopher
The nickname ‘Gopher’ for this currency pair refers to the University of Minnesota sports teams, called the ‘Golden Gophers.’ The name was given to this currency pair because of the high correlation between the USDJPY exchange rate and the performance of the Minnesota economy.
GBPUSD – Cable
The nickname of this pair had its origins in the 19th century when the exchange rate was transmitted via a cable that ran under the Atlantic Ocean. The first transatlantic cable was laid in 1858, enabling real-time communication between London and New York. This cable allowed the exchange rate to be transmitted instantly, and traders could react quickly to any changes in the market. The term ‘Cable’ has since stuck and is still used today.
USDCHF – Swissie
‘Swissie’ is a nickname for the Swiss franc, the official currency of Switzerland. This term was first used in the 19th century to refer to the Swiss franc. Later, this nickname was applied to the USDCHF pair.
An interesting fact:
The US dollar is also sometimes called ‘buck.’ This nickname came from the time when American Indians used deerskin for trading. A male deer is called a buck.
AUDUSD – Aussie
‘Aussie’ is a shortened form of ‘Australian.’ The term became popular in the 1960s and 1970s as Australians began to travel more, and the country’s culture and lifestyle became more widely known around the world. Today, traders refer to the AUDUSD pair as the ‘Aussie.’
USDCAD – Loonie
Initially, the word ‘loonie’ was used when speaking of the Canadian dollar, the official currency of Canada. This nickname comes from the image of a loon on the Canadian one-dollar coin. It was first introduced in 1987 as a replacement for the one-dollar bill. The distinctive design of the coin quickly became popular with Canadians, and now, ‘loonie’ is also a nickname for the USDCAD pair.
NZDUSD – Kiwi
The nickname of NZDUSD refers to the national bird of New Zealand – the kiwi. This bird is a symbol of New Zealand’s unique wildlife. That’s why it is featured on the country’s one-dollar coin. It is small, brown, furry, and cannot fly – just like a kiwi fruit.
EURGBP – Chunnel
There is the English Channel that separates Britain and France. To connect the island with the continent, they built a tunnel under the water that serves as a corridor. Thus, the EURGBP pair blended its name from the English Channel Tunnel.
EURJPY – Euppy
The nickname ‘Euppy’ originated by blending the first letters from EUR and the last letters from JPY. It is pronounced as ‘yuppy,’ a slang term popularized in the 1980s to describe young, successful, and affluent professionals.
GBPJPY – Guppy
Similarly to the previous pair, GBPJPY got its nickname by combining the first letter of GBP and the last letters of JPY. It sounds like the word ‘guppy,’ a small and colourful freshwater fish.
An interesting fact:
GBP, or the pound sterling, is the official currency of the United Kingdom of Great Britain. It is the oldest currency still in use today. The word ‘sterling’ came from the Old Norman French word ‘esterlin,’ meaning ‘little star.’ Originally, this word referred to a silver penny that was introduced in England by King Henry II in the 12th century.
USDRUB – Barnie, EURRUB – Betty
The Russian ruble replaced the Soviet ruble in 1992. Interestingly, the Rubles is also the last name of Barnie and Betty, the Flintstones’ neighbours. This cartoon was popular in the 90s, during the time when the Soviet Union collapsed, and Russia became a separate country.
Bottom Line
While understanding these nicknames can be fun and foster a sense of community among traders, it is important to prioritize clear and accurate communication to avoid confusion and errors. Traders should remain informed and vigilant when trading these currency pairs, regardless of the nickname used.
Overall, knowing the historical and cultural origins of currency pairs can provide insight into their characteristics and behavior in the market.
This is for informational purposes only and does not contain — or to be considered as containing — investment advice, suggestion or recommendation for trading.