Forex, short for foreign exchange, is the global marketplace for trading currencies. It’s the largest and most liquid financial market in the world, with a daily trading volume exceeding $6 trillion. Major currencies like the US dollar (USD), Euro (EUR), Japanese yen (JPY), and British pound (GBP) are actively traded in the forex market. This market facilitates international trade by allowing businesses and central banks to exchange one currency for another, and it plays a crucial role in the global economy.