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USD/JPY, USD/EURO and USD/CAD are the currency pairs in terms of foreign exchange trading. Amongst them which one of the following is referred as the base currency for quotes ?

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Q.

USD/JPY, USD/EURO and USD/CAD are the currency pairs in terms of foreign exchange trading. Amongst them which one of the following is referred as the base currency for quotes ?

[A] USD

[B] JPY

[C] Euro

[D] CAD

Answer & Explanation
Option: [A]

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