When currencies are traded against one another, they are known as currency pairs or instruments, and appear as the three letter currency code followed by a slash and another three letter currency code, the following are examples of the leading currency pairs:
| EUR/USD | The Euro against the US Dollar |
| USD/JPY | The US Dollar against the Japanese Yen |
| GBP/USD | The Great British Pound or Sterling against the US Dollar |
| USD/CHF | The US Dollar against the Swiss Franc |
| EUR/JPY | The Euro against the Japanese Yen |
| EUR/GBP | The Euro against the Great British Pound or Sterling |
| AUD/USD | The Australian Dollar against the US Dollar |
| USD/CAD | The United States Dollar against the Canadian Dollar |
| EUR/CHF | The Euro against the Swiss Franc |
| GBP/JPY | The Great British Pound or Sterling against the Japanese Yen |
The first currency listed before the slash is known as the major, primary, base or leading currency, for example when EUR/USD is listed the EUR (Euro) is known as the major currency.
The second currency listed after the slash is known as the secondary currency, for example when EUR/USD is listed the USD (United States Dollar) is known as the secondary currency.
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