Minor Pairs or Cross Currency Pairs
Currency Pairs that don’t contain US Dollar (USD), but contains currencies of major economies (EUR, GBP, JPY, CHF, AUD, CAD, and NZD) both as base currency and quote currency, is referred to as Minor Currency Pairs or Minor Pairs or Cross Currency Pairs or simply “Crosses”.
These Currency Pairs are traded less frequently and in lower volumes than forex major pairs.
Now the question is how these currency pairs came to the picture?
Traditionally, brokers used to only allow currency conversion to USD only.
If someone wants to exchange any currency other than USD, then he had to first convert to USD and then convert back to the desired currency.
This was a very hectic and time-consuming process.
Forex Trading for Beginners #2: What are the Major Currency Pairs by Rayner Teo
So gradually they started to offer these currency pairs to remove these restrictions and for a faster processing of the request.
Below lists contains all the forex minor pairs or cross currency pairs that are frequently used in forex trading.