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Discover the EUR/USD Currency Pair

Discover the EUR/USD Currency Pair

 

Top on the list of most popular currencies in the world are the U.S dollar and the euro, in that order. While the dollar is the international standard, the euro is the official currency of the second largest economy in the world, the European Union.

The U.S dollar has been stable for decades and there’s been a great deal of transparency in the government regarding the management and regulation of the dollar. Most commodities on the international market are priced in dollars. Having a currency that is accepted the world over makes it very easy for individuals, companies and nations to exchange goods and services across borders.

More than twenty European countries are using a single currency; the euro. These are the largest manufacturers of industrial machines and equipment, electronics and automobiles. They are also the biggest importers of fresh produce from different parts of the world. In addition to the import and export of goods, these European countries have specialists who offer services in different parts of the world. This is the main reason why the euro accounts for the second highest daily trading volume after the dollar.

The two largest economies in the world, the U.S. and the EU are also major trading partners, so it’s obvious that the exchange rate for the EUR/USD currency pair is always volatile, especially when both markets are open for business at the same time.  This makes the EUR/USD one of the better currency pairs for trading.

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