A cross pair (also called a cross-currency pair or simply a cross) is a forex currency pair that does not include the US dollar. Examples include EUR/GBP, EUR/JPY, and GBP/JPY. Cross pairs are derived from the exchange rates of each currency against the US dollar and typically have wider spreads and lower liquidity than major pairs that include the dollar.
Example
“A trader who is bullish on the euro relative to the Japanese yen might buy the EUR/JPY cross pair directly, rather than executing two separate trades involving the US dollar.”