In order to exchange dollars for pounds, the actual transaction to meet this objective is to buy the GBP/USD currency pair. In this example, GBP is the ISO code for British Pounds, and USD is the ISO code for U.S. Dollars. This will be explained in greater detail in Lesson 3 – Currency Trading Conventions.
This is for general information purposes only - Examples shown are for illustrative purposes and may not reflect current prices from OANDA. It is not investment advice or an inducement to trade. Past history is not an indication of future performance.
Trading FX and/or CFDs on margin is high risk and not suitable for everyone. Losses can exceed investment.