EUR USD Forex Live Chart
Live chart of Euro (EUR) versus United States Dollar (USD)
EUR USD – Euro vs US Dollar
In the beginning when the Euro was launched it has faced fall against the American dollar. But, in the 2003 the value of Euro surpassed the American dollar. Due to the transatlantic cable properties it is also called as “fiber”. This pair is considered as the largest pair in the forex trading.
The euro is the Greek word. This is the official currency of the 17 out of 27 members of the European Union. The code of this urgency is EUR and symbolically it is represented as €. This currency is widely used by Europeans on daily basis. It is estimated that almost 332 million Europeans use this currency on daily basis. The eurozone official countries consists of Finland, Estonia, Cyprus, Luxembourg, Malta, Netherlands, Portugal Greece, Ireland, Italy, France, Germany, Belgium, Slovenia, Slovakia, and Spain.
The euro is the second most traded currency around the world, and the second largest reserve currency is euro. According to February 2012, more than 890 billion euro is in circulation. This currency has the highest combined value of coins and bank notes around the world in circulation. According to the 2008 GDP among the various currencies the eurozone is considered as the second largest economy after the United States. This currency was officially introduced on January 1, 1999 in the world of financial market.
The United States Dollar:
The United States dollar also known as USD is the world most used currency in the international transactions. The official sign of the United States dollar also known as American dollar is $. This is the official currency of the overseas territories and of the United States. This currency is considered as the most dominant reserve currencies of the world. Another name used for the American dollar is “buck”. The American dollar is the first currency that has led the way for the different floating currencies. There are many other countries that do not hold the American dollar as their national currency, but they still use the American dollar for their trading. The value of the dollar is controlled by the Federal Reserve Board and this is the only authorized department that has the power of making change in its value.
EUR USD Relationship
In the FOREX market the US dollar is the most traded financial currency. Almost all favored trades use the dollar as one of the pair in exchange currencies. Today the most traded pair against the US dollar is Euro. The pair of the EURUSD is affected with any factors influencing the economies of both countries. The differential interest rates between the Fed and ECB affect this pair, as well. Both of these currencies are relatively stable and their close economies tie them more together.