Escon deOjo's Forex

Originally written by FAM Drone

Euro currency trading against the dollar is the way that most foreign exchange traders start out, and yet in many cases they know virtually nothing about the EUR. The euro is a special (some might even say unusual) currency because it is not the historical currency of any nation. Instead, it was dreamed up by european bureaucrats after the formation of the European Economic Community (now the European Union). It’s the 2nd most heavily traded currency (after the USD), so it is a critical force in the forex market. Over time it has expanded to include nations in Eastern Europe and just as significantly, it has enlarged its temporary. Most important for Euro trading is the formation of the EU Monetary Union (EMU) and the introduction of the EUR, which happened in the years from 1999 to 2001.