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Asian forex trades finished with the firm United States dollar in relation to majors as the Federal Reserve made no surprises for the markets after the interest rate decision was taken. The interest rates remained unchanged as it was forecasted. The Fed’s officials repeated its fears about the possible growth of the inflation and gave no hints where the interest rates will move in future. The Federal Reserve make no changes in the level of interest rate even after the announcement of the European Central Bank to raise the rates in July.

Currency pair is a quotation of two currencies. The currency that goes before the “/” is called as base or transaction currency. And the currency after the “/” is the quote (payment or counter) currency. The currency pair therefore shows the amount of the units of the quote currency required to purchase the one unit of the base currency.