When we begin our journey in our investment training We are interested in everything related to this exciting world. From analyzing graphs, interpreting metrics, anticipate the news and know how to follow in the footsteps of the greats. In the currency market there are times when words are used that can make us feel more lost than Wally on a map, such as typical nicknames. But no is problem; In this investment training we are going to review the nicknames of the most popular currency pairs in the foreign exchange market.
1. Cable (GBP/USD)
Cable's nickname represents the currency pair of the British pound and the US dollar. In the 19th century, the prices of the US dollar and the pound sterling were transmitted between London and New York using steel communication cables strung under the Atlantic Ocean.
Map of the first cable that crossed the Atlantic between the USA and the British Isles. Source: National Geographic History.
Exchange rates between these two regions were literally communicated over the wires. Thus, the currency pair became known as Cable and has continued to be used among investors ever since.
2.Guppy (GBP/JPY)
This nickname represents the currency pair of the British pound and the Japanese yen. Its origin comes from the English pronunciation of the word GPY, the union of the first letter of GBP and the first two of JPY.
3. Loonie (USD/CAD)
This nickname is the most peculiar of the series of nicknames that we will review in this investment training. Represents the currency pair of the US dollar and the Canadian dollar.
Some think it is a joke by Americans towards Canadians in reference to the typical Canadian maple leaf. But the nickname actually comes from Canada's golden $1 coin, which has a design of a common loon bird on its face.
1 Canadian dollar coin, that is, a Loonie. Source: Coins and Canada.
4. Eupy or “Yuppy” (EUR/JPY)
This nickname represents the currency pair of the euro and the Japanese yen. Its origin comes from the English pronunciation of the word Eupy or “Yuppy”, the union of the first two letters of EUR and the last two of JPY.
5. Fiber (EUR/USD)
The fiber represents the currency pair of the euro and the US dollar. This nickname arose in 1999 with the launch of the euro. Investors wanted the newcomer EUR/USD currency pair to have a nickname similar to the ever-popular Cable.
At that time, investors believed that EUR/USD would be an improvement on GBP/USD. Then they were inspired by fiber optics, which had replaced old cable lines. Today, Fiber has surpassed Cable as the most popular pair in the forex market.
6. Barney (USD/RUB)
This nickname is what comprises the currency pair of the US dollar and the Russian ruble. Its origin comes from the fact that the word “ruble” is similar to “Rubble” in English. Coincidentally, it is the American surname of Fred Flintstone's best friend, Pablo Marble (Barney Rubble). Hence the reference of this currency pair.
7.Ninja (USD/JPY)
This will probably be the easiest to learn from this investment training on currency pair nicknames. Represents the currency pair of the US dollar and the Japanese yen. This nickname comes from the traditional ninja warriors, who remain such a distinguished part of Japanese culture around the world. Although it is a nickname that has slowly been losing popularity, as many investors now simply refer to this currency pair as the Yen.
8. Betty (EUR/RUB)
The nickname of this currency pair is inspired by the previous nickname that united the American dollar with the Russian ruble. So, if Pedro (USD) was Pablo's (RUB) friend, Pedro's partner is Betty (EUR).
9. Channel or “Chunnel” (EUR/GBP)
Before we have commented on two great advances in communications between cable and fiber. So, the next nickname in this investment training on nicknames represents the currency pair of the euro and the pound sterling.
The combination of words “tunnel” and “canal” (in English chunnel) refers to the tunnel of the English Channel. This connects the UK mainland to Europe through an underwater tunnel leading to France. Coincidentally, the Channel Tunnel was completed around the same time the euro was launched.
Infrastructure of the Channel Tunnel. Source: Ferropedia.
10. Kiwi (NZD/USD)
This nickname is another of the easiest to interpret of this investment training. Represents the currency pair of the New Zealand dollar with the US dollar. At first glance it may remind us of the green hairy fruit. But the nickname comes from the typical traditional bird of the New Zealand islands.