Some facts about FOREX
Foreign Currency Exchange Rate
Investment management firms (who typically manage large accounts on behalf of customers such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities.
Quotes using a country's home currency as the price currency (e.g., 0.50593 = $1 in the UK) are known as direct quotation or price quotation (from that country's perspective) and are used by most countries.
Fundamental analysis focuses on what ought to happen in a market. Among the factors considered are: supply and demand, seasonal cycles, weather, government policy.