Exotic currency pairs are made up of one major currency paired with the currency of an emerging economy, such as Brazil, Mexico, Chile, Turkey, or Hungary and many others.
Basically, an exotic currency pair includes one major currency alongside an exotic currency.
Due to the overall lower degree of liquidity, exotic currency pairs tend to be far more sensitive to economic and geopolitical events.
For example, a political scandal or unexpected election results can cause an exotic pair’s exchange rate to swing violently.
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