Explanation
A spot FX transaction is the purchase of one currency for another at an agreed price, with delivery usually two business days later under the Basel Committee's description of FX spot. The pair is the way that price is written. The European Central Bank publishes euro reference rates with the euro as the base currency, so each rate is a number of units of another currency per euro. Which currency is written first is a convention of the publisher or the venue. It is not a view on which currency will rise.
This page explains published terms for education and reference. It is not financial, investment, tax, or trading advice, and it does not recommend a firm, product, or strategy.
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Sources and last check
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