when currency dealers in one country buy or sell the currency of a second country in exchange for the currency of a third country:
• The dollar also benefited against the euro by selling euros for yen in cross-trading.
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cross-trading UK US noun [U]
► FINANCE the act of buying the money of a foreign country with the money of another foreign country
► FINANCE the act buying the money of one country with the money of another country without using the US dollar as a base currency
► STOCK MARKET the act of matching a buy order of a stock with a sell order without officially recording the sale on a stock exchange
Financial and business terms. 2012.