What currencies are used in the foreign exchange market?

Inquiring minds often wonder, "What currencies are used in the vast and dynamic foreign exchange market?" This global arena, where currencies are bought and sold, involves a diverse array of monetary units. From the mighty US Dollar, which often serves as the benchmark for many transactions, to the Euro, representing the economic powerhouse of the European Union. The Japanese Yen, Chinese Renminbi, and the British Pound Sterling also occupy prominent positions in this vast landscape. However, the foreign exchange market is not just about major currencies. It also encompasses numerous other units, including those from emerging economies, representing the global diversity of financial activity. The question remains, "Which of these currencies are currently dominating the foreign exchange market, and what factors are shaping their relative values?