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|Product Type: Currencies||Market: Global|
|Trading Hours: 24 hours, Mon-Fri.|
EUR/USD is the most commonly-traded currency pair in the foreign exchange market, with an average daily trading volume of close to $600 billion - equivalent to 37% of total market activity. Its vast popularity and constantly high liquidity are attributed to the fact that both its base and quote currencies – the euro and the United States (US) dollar – are by far the most actively-traded currencies in the world. Aside from being the single currency of 19 European Union (EU) members, the euro has in a relativity short period of time become the closest contender to the US dollar’s long-lasting reign as the world’s primary exchange currency. As for the US dollar, the economic strength of the United States and the international sovereignty of its trading bloc are indisputable. Close to 90% of all foreign-exchange transactions and over two-thirds of foreign exchange
reserves are denominated in US dollars. All in all, the supremacy of the EUR/USD currency pair is solid and likely to persist well into the future.