what are cross currency pairs 
foreign currencies are always traded in pairs the value of one currency compared to a counterpart cross currency pairs also known as minor currency pairs are pairs that do not include the u s dollar but do include at least one of the world s other three major currencies that is to say that the japanese yen british pound or the euro are at least one if not both of the currencies included in the pair cross currency pairs are not to be confused with the seven major currency pairs all of which include the u s dollar against one of the six other most liquid currencies in the world 