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Originally Posted by Gamma_Jammer
So regardless of whether you define liquidity in terms of average daily market size, or impact of a given sized trade on the price, swaps are far deeper than any other forex market.
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GJ, you make your point, I agree.
Myself take the point of view of MoneyTec reader. I guess most of them do not have open 1MIO credit lines with two banks. So, trading 1M EUR/USD swaps is really difficult for them. As far as I know, internet based forex brokers do not provide currency swap quotes - they just take you from one or another side.
Therefore, currency swaps trading is out of reach for our "average" Forum reader, so I would call this "less liquid" than spot.
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q827
pegged - it is the currency for which the local goverment/central bank has set max possible limits to change against some major currency (usually USD). Chinese yuan is a sample of pegged currency (at the moment of writing) - smth around 8.2