Currencies are quoted in pairs, for example - EUR / USD or USD / JPY. The first “acronym”, currency in the pair is called “base currency”, while the second is called “counter currency”. The base currency is the one that will be used as “base” precisely for purchases and sales. For example, if you decide to buy EUR / USD, then you acquire Euros and sell U.S. Dollars. You do this if you expect the Euro to a record high against the U.S. dollar. […]