What are major currencies typically characterized by?

Major currencies are typically characterized by being the currencies of the world's largest economies that are widely traded. These currencies, such as the US dollar, euro, and Japanese yen, play a crucial role in international trade and finance. They are highly liquid, meaning they can easily be exchanged for other currencies or used in transactions without significant price fluctuations. The widespread acceptance of these currencies in various financial markets adds to their stability and reliability.

Moreover, because they belong to large economies, these currencies reflect the economic health and stability of their respective nations. This is an important factor that attracts traders and investors, leading to high trading volumes and enhancing the currencies' presence in global markets. Thus, option B accurately captures the essence of what defines major currencies in the context of international economics and trading systems.