Meaning of the word "currency market" in English

What does "currency market" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

currency market

US /ˈkɜːr.ən.si ˈmɑːr.kɪt/
UK /ˈkʌr.ən.si ˈmɑː.kɪt/

Noun

a market in which currencies are traded

Example:
The volatility in the currency market can affect international trade.
Many investors participate in the currency market to hedge against risks.