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Euro to US Dollar
One of the newer currencies to be created in January 1999, the Euro is one of the most heavily traded currency pairs. Euro to Dollar is a very liquid market and less volatile compared to other forex currency instruments, this is due to the size, strength and stability of the economies that support each currency (the Eurozone and United States of America). This currency pair tells traders how many Dollars are needed to buy a Euro and provides excellent opportunities to make both short and long term returns within the international forex market.
Euro (ISO code EUR)
- The Central Bank of Europe is the European Central Bank (ECB).
- Currently 19 member states of the European Union (EU) use the Euro currency, meaning that exchange rate risk is reduced and contributes to economic stability for all countries within the EU.
- The Euro is the second-largest currency that is traded worldwide and is a major global reserve currency.
- The Euro replaced the European Currency Unit (ECU) in 1999 and strict rules were issued to member state countries joining the currency union.
US Dollar (ISO code USD)
- The Central Bank of the United States is the Federal Reserve (sometimes referred to as the Fed).
- USD is the main global reserve currency and the United States of America (U.S.A) is the largest economy in the world.
- The (US Dollar) USD is used to price most global commodities (including Oil and Gold).
- The US has a well developed economy with high productivity levels and is fuelled by huge natural resources.
- The International Monetary Fund (IMF) states that the US Gross Domestic Product (GDP) is $15 trillion and makes-up c. 23% of global GDP to exchange rates.