Slang terms for world currency often find their roots in the appearance or the shape of the money. Within a single currency community, the potential slang terms can be incredibly numerous and varied leading to some interesting commentary on the social and political situations around the world. If currency rates in the world don’t favour a specific currency, then that currency may gain a less than flattering slang term; it’s that simple. Why we use slang in the first place is a topic on itself altogether.

Slang Relating to Importance

Often world currency and money conversion is unrelated to the slang terms but it can have an effect on how much affection is shown toward the currency in question. The general slang for currency often relates to the importance of money in general. Bread, dough, milk and paper are all slang terms for money that relate to the value; the dietary terms are self-explanatory but paper comes from a time that paper was quite valuable (also money is often printed on paper). Then there is the social commentary motivated slang terms, coin, folding stuff, lolly, moolah and shrapnel; shrapnel is used to describe a large amount of money that has very little value such as a sack of cents).

Australian Currency

Every monetary currency of the world has at least one slang term for it. Australian money often gets its slang from the appearance of the currency. A five-dollar is known as a ‘fiver’ or ‘queenie’ because of the portrait of the Queen on it, similarly the ten-dollar is a ‘tenner’ or ‘blue-tongue’. A twenty-dollar note is known as a ‘lobster’ because it is mostly red, a fifty-dollar is a ‘pineapple’ for being yellow, and a one-hundred dollar note is known as a ‘watermelon.’

American Currency

In America the slang for their world currency exchange has more to do with the value of the item than shape. Quite simply five dollars become ‘fivers’ or a ‘five-spot’ and so on. The ten dollar can also be called a ‘sawbuck’ because of the shape of a sawbuck or sawhorse which have crossed legs resembling ‘X;’ X is the Roman numeral for 10 and that is that. A ‘G’ or grand refers to $1000 and is perhaps the most widely used form of currency slang in the world, every monetary currency of the world that can be denominated into a thousand can be referred to as a ‘G.’

The Rhino

In Britain available cash has been known to currency world-wide as ‘rhino’ but not for the reasons you’d think. The term ‘paying through the nose’ is where this slang has its roots in that rhino- is a Greek prefix for nose. So rhino money is nose money as in paying through the nose. The rich and varied vocabulary we come up with for our cash truly means that there is no world currency safe from a slang term. Where language is concerned, slang will always exist and we name our currency often.

Eugene Calvini is a writer and enthusiast of money; with the humble beginnings of a MT4 demo he is now among many effective forex trading brokers who strive for full understanding of currency.

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In the past, a currency market was divided largely by geography and technology. Even the ancient trade markets had barriers in language and transportation. Today we have so many different currencies since over time they evolved naturally into what we see today. Centuries of necessity and barriers that no longer exist; are we ready for a single currency money market? With the advent of the internet, the world is so intrinsically connected that it would be a simple task to get up to date news from the other side of the world instantly. The world truly becomes one big connected playground with the only thing holding us back being a 6-hour sleep period recommended for a healthy life.

Advantages of a Single Currency Market

When considering the trading of single currency in the market, there are always going to be advantages and disadvantages for every global change. One of the advantages of a one world currency market; foreign exchange would no longer be a term since we’d all be citizens of the world. We’d all share the challenges and difficulties with each other rather than profiteering off of weaker countries. The forex currency market would have to evolve into trading different commodities, which in itself is a point that has both pros and cons. With a single world currency, there would be no need to verify or exchange values of currency resulting in much quicker bank and market transfer times. Typically it can take several days for an approved transaction to go through; sometimes this really limits the possibilities of your trading the currency market.

Disadvantages of a Single Currency Market

However, the disadvantages of a single world currency is something far more forex traders actively speak out against. The biggest warning sign is the Euro Zone crisis; if 17 countries cannot operate under a single currency, how would the entire world fair under one. One futurologist suggested we’re more likely to invent and operate communication through telepathy before a single world currency will exist. The highly flexible currency market rates put to death and give birth to many currencies, but it’s unlikely any one world currency will become a reality any time soon if at all. One major problem is that if a single world currency were to fail, there would be nothing else to trade against and monetary value as we know it would collapse.

The Reality

So while a romantic notion, the idea that the world could function and survive on a single world currency is something best left for the science fiction novel. Computer chips in our arms controlling our monetary value and operating a single worldwide currency sounds convenient to the individual, but the truth is the business world requires what’s best for entire companies to aid survival. The currency market simply isn’t ready for one worldwide currency and we’re definitely better off without it; for now.

Eugene Calvini is a writer and an avid forex trader; observing MT4 indicators and armed with a Metatrader 4 demo account he shares his experience and unique insight into the currency markets.

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African currencies are hardly considered significant when it comes to forex trading and global markets, but with a single currency being proposed by the African Union for implementation in 2023, it’s worth speculating about what it could mean for the continent.

The hypothetical names being proposed are the Afro and the Afriq. Interestingly, the suggestion of a single currency, though rejected as impractical at the time of suggestion, was originally made by Muammar Gaddafi. The unpopular warmonger also wanted a single military force and passport system, but his monetary idea obviously planted a seed that’s been steadily growing.

The African Economic Community, a branch of the African Union, has been set to establish communication between African states regarding the implementation of one currency. Formed in 1994, the group has set phased goals into place which, if all goes according to plan, should result in a single currency continent by 2028 at the latest.

Reactions have been varied. So far only three of the 53 states which hold membership within the African Union have committed to the idea. Delays have been requested by Egypt, Swaziland and Lesotho as they have openly stated their reservations about the change over, while the Seychelles and Cape Verde have shown interest in joining the euro instead. Two countries which have blatantly stated no interest in joining a currency union are Ethiopia and Morocco, while the rest of the African states are still open to change.

If the strategy is implemented, Africa’s presence on the global market will surely be increased. Smaller economies will benefit from the protection provided by larger, more stable ones, making it less possible for outside influences to take advantage. It could also encourage better inter-continental relations, improve local trade and act as a catalyst to ease tensions. A united Africa may also be able to curb the extent of the exploitation on its natural resources. We currently get far too little for way too much – though I may be dreaming too big to think this will ever change.

On the downside, the diverse political and economical landscape in Africa may prove too daunting for this ambitious idea, and our lack of infrastructure is likely to stunt inter-trade instead of help it flourish. It’s also worth noting that some African currencies are worth vastly more than others, which means it will be difficult to find a happy medium when standardising. If we had a single currency it would imperative to have some kind of governing body to enforce regulations across all states – imagine if Zimbabwe was allowed to carry on as it has? South Africa, with its strong currency in relation to the rest, possibly has the most to lose.

All the above-mentioned obstacles can, with time, effort and the right governance, be overcome in a positive way. While it may seem inconceivable for Africa to follow in the footsteps of Europe when it comes to a new monetary system, there’s no reason why we shouldn’t try.

Jacky Letard, an experienced content writer who has always been very interested in Forex trading, often visits online forex trading platforms and enjoys writing about topical economic affairs.

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On Friday, the sterling was high against the struggling euro. The euro for past week it was reported to be 16 month low against dollar however on Friday they said that euro has been at 17 month low.  Later on a day count the sources for the euro zone government informed that the Standard & Poor cut the ratings to low grade.

Warning was made on December regarding the cuts in the rates. This lower of rating has been across several countries and even the Germany was not included in the list. The sterling fell down against pence for about 1% and reached to 82.78 however it was roughly high against single currency (euro).

Noticing the statistical graph between euro and pence, the euro is noted to be at 82.22 pence. It was the lowest noted level since September 2010. Nevertheless the exporters and traders think that the euro zone debt crisis has reached a greenback that is it has finally got a back up. The pound (sterling) is tracked to be low not alone against the euro but also against dollar as well.

At July 2010 the objective barrier was set to be $1.5250 but it was breached to some low at $1.5234 which is 0.7% low. In the retracement of rally in the pound the 61.8% improvement is seen for sterling. The level of demand that is being expected was not achieved but on other side the Italy sold 4.75 billion Euros in the debt. Sterling is the single currency which is at some sentimental risk.

On Thursday the stellar sale the Spanish bonds however the Italian debt auctions also possess some reasonable pressure but not the expected demand. The BOE (Bank of England) will ease the monetary policy a so in the nearer sates the analyst has detected that pound could face some pressures.

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On Friday the euro has rosin against the dollar however few days back it was 5 week low against both the dollar and yen. However, the traders were not aware of its rise anyway. The fear of euro was intensifying before a week and it is not anymore. The investors who had their bet on this single currency “euro” have been unwounded and they have their profits in hands.

The thirst to sell the upticks has been increased with the debt crisis in the euro zone. Pressure is been resting upon the ECB (European Central Bank). Real money investors and other demand on the bond buying programme with the Spanish and Italian however their final close would be unsustainable. Any sort of gain in euro would be fleeting until any relief is been bought as solution to pressure of ECB.

There is much other ways but no one is willing to look in the counter view of the euro and apart from that it would never be an immediate solution to it said a senior currency strategist. In the five week low, euro was at $1.3421 and now after rising it is at $1.3510 which is 0.4% rise. On Thursday it has 0.4% rise and roughly on this week it is just 2% rise.

Retrieving from the last month value of 76.4%, the statistics established as on October 4 it was at $1.3145 and on October 27 it reached a high value of about $1.4248. Now the single currency value is round $1.3405. Forex trade may be swapped out in the euro ranging between the values of $1.355 to $1.3550.

The European Central Bank said on a note that the courageous and active participants would sell the euro for around $1.3550 to $1.3560. They would be shortening euro against the dollar and yen with the value of $1.3650.

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On the Tuesday trade the euro has been dropped against dollar for a record of four month low. The reason the low would the plague at global market and fear that whether the Greece debt crisis would spread all over. The Spain and Italy was the region of target that had more chance in spreading up. In Tokyo trade rate the single currency valid at $1.3958 and they have dropped from $1.4029.

In the New York trade rate on Monday it was around $1.4029 and they reached slowly down and now at the four month low record at $1.3932. Euro was the cause for the value of yen to be lowered. It caused about 0.69 lower in yen. It was previously at 112.51euro and now at 111.82euro. However, dollar increased a little in this conflict. It is now at 80.24 and previously was at 80.11.

Italy and Spain would the next region that had their borrowing cost to soar and that was noticed clearly on Monday trade. In that fear, the euro zone minister had a meeting at Brussels where they discussed about the new rescue package. They had sworn that they would surely see to the enhancing feature of the European financial stability and facility. The fund of about 440 billion euro is lent to euro zone nations.

As in dollars the fund would reach up to $617.1 million. Christine Lagarde, international monetary fund MD said that the Greece had taken efforts to close their budget gaps however it seems to be effect less as they are not sufficient. Dollar strength among other Asian countries is quite strong enough and rising.

Government managing people and the policy makers find that difficult to make decision as the crisis been an obstacle for their development phase. The pressure could at release only when clear and strong agreement is being made with Europe.

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The dollar gained today versus most of the 16 main traded currencies as China tightened its lending restrictions, raising risk aversion in

foreign-exchange markets affecting high-yielding currencies the most, as investors search for safer bets.

The U.S. currency continue yesterday’s advance as risk aversion coming from Asia is still playing a major role in market sentiment this week, and the safety provided by assets in the country became one of the best options for these turbulent trading sessions. The euro was one of the biggest losers versus the dollar touching the lowest rate in 2010 today after International Monetary Fund officials affirmed that Greece’s situation is serious, once again making the Southern European nation to affect the outlook for the bloc’s single currency. The New Zealand dollar declined as a report in the nation showed that consumer prices dropped in the country, surprising analysts.

Chinese’s new policy regarding loans to avoid a new credit bubble is decreasing risk appetite, and events in Europe aren’t good either, this is allowing the dollar to outperform most of its trading partners currencies, as the U.S. provided relatively good data today, as analysts affirmed.

EUR/USD bottomed at 1.4095 as of 17:17 GMT from a previous rate of 1.4272 yesterday. NZD/USD traded at 0.7190 from 0.7387.

If you want to comment on the U.S. dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The Swiss currency finally felt the central bankers pressure and declined considerably versus most of its main trading partners’ currencies, on speculations that measures will be taken by the financial authorities to avoid the franc to gain.

The Swiss franc dropped even versus the European single currency as some of the bloc’s members are providing negative economic data, evidencing that the Swiss National Bank pressure to halt the franc’s rally is taking effect. The pound was one of the biggest winners versus the franc as the U.K.’s inflation rose beyond forecasts.

GBP/CHF traded at 1.6886 as of 22:31 GMT from a previous rate 1.6737 yesterday.

If you want to comment on the Swiss franc’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The euro tumbled today versus most of the

key-currencies in Europe after Germany published an important economic confidence report with worse-than-expected data, declining attractiveness for the single currency as some of its member countries struggle with a growing budget deficit.

The European single currency dropped versus most of the 16 main traded currencies today as the outlook for the economic bloc declined considerably after theGerman ZEW Economic Sentiment report brought negative data to traders, which opted for other currencies in the region and overseas as Germany is the main economy currently using the euro. Greece’s deteriorating budget deficit is still a reason of big concern and is affecting the appeal for the euro, as the European Central Bank affirmed that further measures should be taken by the Southern European nation to solve its growing budget crisis. The pound climbed versus the euro as the U.K. posted a higher than expected annualized inflation rate.

Speculations that a slow down in the Eurozone recovery pace are already affecting the outlook for the currency, according to analysts. The region still has low interest rates, and the disparities among the bloc’s members are influencing traders who would rather invest in other regions for the moment.

EUR/USD traded at 1.4276 as of 17:26 GMT from a previous rate of 1.4391 yesterday. EUR/GBP declined to 0.8715 from 0.8815.

If you want to comment on the Euro’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The Swiss franc gained versus several

key-currencies today despite the nation’s central bank concerns regarding the strength of its currency, which already was expressed previously in statements mentioning eventual future interventions to halt the franc’s rally.

Even if the Swiss National Bank President Philipp Hildebrand stated last week that franc’s fluctuations will be monitored closely, expressing concern with the Swiss currency high rates, the franc advanced today versus the euro as traders feel it is still undervalued versus the European single currency. According to analysts, the SNB will impose more than verbal interventions anytime soon as long as the franc continues bullish.

EUR/CHF traded at 1.4740 as of 21:31 GMT from an opening rate of 1.4753 yesterday.

If you want to comment on the Swiss franc’s recent action or have any questions regarding this currency, please, feel free to reply below.

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This Friday’s shift in market sentiment allowed the U.S. dollar to post a weekly advance versus most of the main

higher-yielding currencies, as risk aversion rose globally and traders opted by the relative safety provided by dollar-priced assets.

The dollar gained significantly versus commodity producer currencies like the Brazilian Real and the Australian dollar towards the end of this week as China’s new lending restrictions raised concerns that demand for raw materials may decline in the country, affecting exports from these countries. The dollar also reverted a losing trend versus the euro and ended the week with a positive result as some of its member countries increasing budget deficit are raising speculations that the currency attractiveness may be impacted among traders, making the European single currency to drop sharply in this week’s last trading session.

Even if economic data published in the U.S. during this week was below forecasts, pessimism was stronger and allowed not only the dollar, but also the yen to outperform most of main trading currencies towards the end of the week. Fed rate hikes speculations declined significantly, but the dollar may continue to sustain its current levels as uncertainty regarding the global economy remains considerable.

EUR/USD closed the week at 1.4381 from 1.4505. NZD/USD closed the week at 0.7368 from 0.7424 on Thursday.

If you want to comment on the U.S. dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The Swedish krona ended this week gaining versus the European single currency as Greek’s budget deficit is once again affecting the outlook for the euro, which also declined versus most of the main traded currencies in

foreign-exchange markets.

The krona ended this week with a third consecutive day of gains versus the euro after Greece’s deteriorating economic health is raising concern towards traders regarding the Eurozone, after European Central Bank President Jean-Claude Trichet affirmed that member countries will not have any privileges.

EUR/SEK ended the week at 10.17 from 10.22 on Monday when markets opened.

If you want to comment on the Swedish krona’s recent action or have any questions regarding this currency, please, feel free to reply below.

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After the SNB stated its position against further advances of its national currency, the Swiss Franc may be poised to decline versus main currencies, as fears of interventions are likely to shun investors from investing in the

franc-priced assets.

The Swiss franc gained during the late months of the last year versus the euro and the dollar, posting its highest monthly advance in December versus the European single currency in 2009, and trading in parity with the greenback in November, as the Swiss economy showed its strength and resilience, and declining odds of deflation were interpreted as a good chance for the currency to gain in foreign-exchange markets. Today, after months of silence, the Swiss National Bank stated through its officials that its currency appreciation would have been gone to far, and that further fluctuations of the Swiss franc will be monitored by central bankers, indicating that a further advance of the franc may be halted by more than just verbal interventions.

Speculations regarding future interventions in the Swiss currency rates open a good trading possibility for selling the franc versus other currencies, specially higher-yielding ones, as SNB’s position took today will not allow the franc to advance much further, declining attractiveness for the franc among the main currency pairs.

USD/CHF traded at 1.0169 as of 00:49 GMT from 1.0140 in the intraday, being rather unchanged following the SNB statement.

If you want to comment on the Swiss franc’s recent action or have any questions regarding this currency, please, feel free to reply below.

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The dollar strengthened, consolidating after broad selling on the back of data showing strong US growth, gaining over a cent on the single currency.

• Equities took a sharp downturn at the end of last week, having rallied after the positive US GDP data, most likely as a result of end of month profit taking, which buoyed demand for the greenback.
• Data also showed that US consumer spending fell for the first time in five months in September, coinciding with the end of the government’s car scrappage scheme.
• The US Commerce Department says spending dropped 0.5% in September, compared with a 1.4% rise in August, which encouraged investors to buy back into the haven currency.
• The US dollar extended gains in the afternoon, pushing the euro down near three-week lows after data showed that a US Midwest manufacturing index was stronger-than-expected failed to heighten risk appetite.
• The euro has climbed in trading this morning with the price currently hovering around the mid 1.47 mark.

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The dollar snapped four days of gains against the euro as the US economy returned to growth in the three months through September, officially exiting recession.

• The US government’s advance estimate showed gross domestic product grew at an annualised rate of 3.5% in the third quarter, the first rise since the second quarter of 2008, which beat expectations for a reading of 3.3%.
• The data reduced the safe-haven appeal of the greenback, encouraging investors to sell their dollar holdings in favour of growth-linked currencies, enabling the euro to climb over a cent on the day.
• Analysts did note however, that concern may still linger over whether the US economy will be able to sustain this level of growth as the government begins to unwind its stimulus packages.
• In addition, trading yesterday saw the European Commission’s economic sentiment indicator post a bigger-than-expected October rise. The index for the eurozone rose to 86.2 from 82.8 in September, beating expectations and lending support to the single currency’s rally.

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The pound continued to rally yesterday and is now poised to snap a three-month decline versus the euro, as the UK showed positive economic signals.

• Data from the Bank of England revealed that UK net consumer lending rose less than expected in September but the number of loans approved for house purchases did hit its highest level in 18- months.
• Mortgage approvals rose to 56,215 from a revised 52,970 in August, which is the highest level of approvals since February last year and marks a solid recovery from September 2008 when only 33,419 mortgages were approved.
• The more positive data saw traders trimming excessive short positions in the pound, enabling the UK currency to briefly extend gains over 1.12, and suggesting that the markets may have overreacted to the surprisingly weak GDP data last week.
• Analysts noted that the UK currency also benefited as the euro fought to stem its broad slide this week, as traders saw the slump in global equities earlier in the week as a sign to sell the single currency.

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The single currency slipped further away from recent 14-month highs against the dollar yesterday, losing nearly a cent to close down at 1.4707.

• The US dollar rose, stretching a rally against the euro to a fourth day, supported by weak U.S. economic data that weighed on equity markets and led investors to seek safety in the greenback and cut exposure to assets perceived as risky.
• Initially though, the euro pared early losses after data showed core US durable goods orders were better-than-expected in September.
• The report revealed that the core figure, which excludes transport equipment, rose by 0.9%, higher than forecasts of a 0.6% rise, strengthening risk appetite in the market.
• However, in the afternoon the euro extended losses after further data showed that US home sales unexpectedly fell, declining 3.6% last month to an annual rate of 402,000, disappointing market forecasts that expected a 2.6% rise.
• Analysts noted that the soft housing sales figure offset positive durable goods orders, given that the latter data is generally volatile and sometimes does not represent the whole economic story.
• In trading today, investors will be eagerly awaiting US 3rd quarter GDP data, released at 12:30.

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The pound continued to advance against a broadly weaker single currency yesterday, hitting a six-week high of 1.1167 as investors trimmed their euro holdings.

• Preliminary CPI data from Germany revealed that consumer prices remained flat on the year in October. Monthly data showed that the index did rise by 0.1% in October from September, though this rise failed to garner support for the euro.
• The markets also saw a slight withdrawal of risk activity yesterday as weak housing data in the US renewed concern over the health of the global recovery.
• The data dragged European equities down to three-week lows, which appeared to impact more severely on the single-currency, enabling the pound to gain.
• This morning, the pound is consolidating its position above 1.1100, with analysts reiterating that sterling is likely to remain in a holding pattern until next week’s BoE asset purchase decision.
• Investors are cautious amid uncertainty over whether the Central Bank will extend their quantitative easing programme, and so sterling movements may continue to be dictated by risk appetite in over the coming days.

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The dollar rose against the single currency for a third consecutive day in its longest advance since August, as a report showed US consumer confidence fell this month.

• The euro struggled in trading yesterday after data showed that public sector lending in the eurozone declined by 0.3% in September compared to this period last year.
• The figure raises concern that there are still few signs that the ECB’s unlimited provision of liquidity to banks is prompting any pick up in eurozone broad money lending, which could put pressure on the single currency.
• The euro then continued to slide, after data revealed that US consumer confidence unexpectedly fell in October as fears about future job prospects increasingly preyed upon the American public.
• The index fell to 47.7 from 53.4 in September, disappointing market expectations of a rise and spurring a return to perceived safety of the greenback.
• In addition, traders noted that as the single currency breached a key technical level at $1.4850, stop-losses were triggered, which pushed the single-currency to a two-week low of $1.4773.

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