Guys, it's late, my head is swimming, and there are only stupid questions left in my tired mind.
So here's the stupid question: Have the market makers ever, or would they ever, flip the order of a pair to reflect changing values between the currencies?
If you're not sure what I'm getting at, what would happen if USD fell to, say, 0.2000 against CAD. Would it still be referred to on the markets as USDCAD, or, at some point, would they actually flip the pair so that it was commonly referred to as CADUSD?
Most of the pairs are commonly referred to with the more-valuable currency in front (USDJPY, GBPUSD, etc.) But what would happen if the previously-greater-valued currency fell precipitously against its partner? Would the "official" moniker ever be switched to reflect the new relative value?
So here's the stupid question: Have the market makers ever, or would they ever, flip the order of a pair to reflect changing values between the currencies?
If you're not sure what I'm getting at, what would happen if USD fell to, say, 0.2000 against CAD. Would it still be referred to on the markets as USDCAD, or, at some point, would they actually flip the pair so that it was commonly referred to as CADUSD?
Most of the pairs are commonly referred to with the more-valuable currency in front (USDJPY, GBPUSD, etc.) But what would happen if the previously-greater-valued currency fell precipitously against its partner? Would the "official" moniker ever be switched to reflect the new relative value?