Euro trading against the USD is the way that most foreign exchange traders start out, and yet in many cases they know just about nothing about the EUR. Instead, it was dreamed up by western european bureaucrats after the formation of the European Economic Community (now the European Union). It is the 2nd most heavily traded currency (after the US dollar), so it’s a crucial force in the forex market.
The EEC/ECU began as a way of lowering trade barriers between nations in Western Europe. Over the years it has extended to include countries in Eastern Europe and just as significantly, it has enlarged its temporary.
