Sunday, April 10, 2011

Do Currencies Have Nicknames?

I guess everyone can have a nickname so why not a currency. Here are some of the popular Forex nicknames for the various currency pairs they are associated with:
GBP/USD = Cable
EUR/USD = Euro or Fiber
USD/CHF = Swissy
USD/CAD = Loonie
AUD/USD = Ozzie
NZD/USD = Kiwi
EUR/JPY = Euppy (pronounced "Yuppy")
GBP/JPY = Gopher
EUR/GBP = Chunnel (from channel tunnel between Britain & France)
USD/JPY = Yen

Stand alone nicknames (note some are the same as a pair):
USD = Greenback or Buck (Greenback - given to USD because of it's green print) - (bucks - before paper money buckskins were once used for trading)
CAD = Loonie or Caddy ("Loonie" came from the bird on the Canadian coin)
AUD = Aussie (Aussie - no apparent reason for the name other than it sounds cool)
NZD = Kiwi (Kiwi - Is a kind of bird that can't fly which happens to be a national symbol of New Zealand)
CHF = Swissy (Swissy - people just started calling it the "Swissy" apparently because it sounds like Swiss and was funner to add a y or ie to the end)
GBP = Sterling or Cable (Cable - from Trans-Atlantic cable between US & Britain)
JPY = Yen A name in Japanese that means round circular object or coin.

Why is the Swiss dollar abbreviated CHF?
CH is the international abbreviation for Switzerland -- comes from Latin "Confederatio Helvetica..

The purpose of knowing can be important if talking about a particular pair or currency with another trader or reading an article where slang is used. It's a little funner too I guess and a little easier to have a conversation than sounding out every pair or abbreviation. Some currency nicknames do have a historical meaning behind the name so it helps build up the knowledge if you know the meaning behind the name. Of course for JoeBlow Public none of this matters but for a currency trader it is at least fashionable or trendy and fits in with the niche.

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