Minors and Exotics
All the currency pairs that are not associated with the United States (US) dollar are called minors or crosses. While they trade in liquid markets, they are not as liquid as the majors, and they have wider spreads. Crosses from individual majors trade most volumes, examples include: EUR/GBP, GBP/JPY and EUR/CHF. Exotic currency pairs are not that liquid and have much wider spreads. These include pairs of emerging markets and examples include USD/SGD, the US dollar/ Singaporean dollar.