This is the ticker name for a popular currency pair where the Euro is traded against the U.S. Dollar.
EUR/USD is the most popular in the list of currency pairs which personifies the ratio of two major economies of the world. It is considered by traders as the most liquid.
The currencies in the pair
The Euro (symbolized as €) is the second-most traded currency in the world and is issued out by the European Central Bank.
The Euro is the official currency of the seventeen countries that make up the European currency block, or the Eurozone. The Euro is the characterized as the second world reserve currency, owned by central banks, financial institutions, and private investors. The Euro has acted many times as a currency for speculation.
The U.S. Dollar (symbolized as $) or the “greenback” is the single best-selling currency in the world and is issued by the Federal Reserve System (FRS).
It is the most popular reserve currencies owned by many central banks, financial institutions, and private investors.
When economic instability occurs, the U.S. Dollar is considered the currency of “safe haven” because of the level of reliability of the U.S. economy.
The U.S. Dollar is also used as standard payment unit in major commodity markets.