GBP/USD – Cable: Back in the mid-19th century, before the invention of satellites and fiber optics, the exchange rate between the British Pound Sterling (GBP) and the US Dollar (USD) was actually transmitted across the Atlantic Ocean via submarine cable. The first such cable between the London and NY exchanges was laid in 1858 and the rest as they say, is history!
Traders love to talk about the good old days and this piece of forex trading history has stuck with traders generations onward.
EUR/USD – Fiber: But what about the brand spanking new Euro that was first introduced in only 1999. EUR/USD of course doesn’t quite have the same romantic history to draw upon that Cable does. So what do traders do? Well, being the funny bunch that they are, they’ve gone and simply ‘upgraded’ the old Cable to a state of the art Fibre Optic line. Hence the nickname Fibre!
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