外汇交易中存在三种报价，分别是：Direct Quote (直接报价)、Indirect Quote(间接报价)、Cross Rate(套价或称交叉汇率). 以下是三种报价的解释：
Direct Quote : The price for 1 US dollar in terms of the other currency, e.g. Japanese Yen, Canadian dollar, etc.
简言之，直接报价就是一美元可以买多少目标货币，这类报价的特征就是货币对总是USD在先。Japanese Yen, Canadian dollar使用此种报价。
图1. 一些使用直接报价的货币对
Indirect Quote : The price of 1 unit of a currency in terms of US dollars, e.g. British pound, euros.
简言之，间接报价就是一美元目标货币可以购买多少美元，这类报价的特征就是货币对总是USD在后。British pound, euros使用此处报价。
图2. 一些使用间接报价的货币对
Cross Rates : Any quote which is not against the US dollar is called "cross". For example, GBP/JPY is a cross rate, since it is calculated via the US dollar. Here is how the GBP/JPY rate is calculated:
GBP/USD = 2.0000;
USD/JPY = 110.00;
Therefore: GBP/JPY = 110.00 * 2.0000 = 222.00
凡是不以USD为参照的报价都是套价(交叉汇率), 交叉汇率依然是以美元为基础换算过来的。
图3. 一些使用套价的货币对
