Currency pair eur

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Currency pair eurCurrency Pair: EUR/USD (Euro/U. S. Dollar)

DEFINITION of 'Currency Pair: EUR/USD (Euro/U. S. Dollar) '

The abbreviation for the euro and U. S. dollar (EUR/USD) pair or cross for the currencies of the European Union (EU) and the United States (USD). The currency pair tells the reader how many U. S. dollars (the quote currency ) are needed to purchase one euro (the base currency).

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BREAKING DOWN 'Currency Pair: EUR/USD (Euro/U. S. Dollar) '

The value of the EUR/USD pair is quoted as 1 euro per x U. S. dollars. For example, if the pair is trading at 1.50 it means that it takes 1.5 U. S. dollars to buy 1 euro.

The EUR/USD tends to have a negative correlation with the USD/CHF and a positive correlation to the GBP/USD currency pairs. This is due to the positive correlation of the euro, the Swiss franc and the British pound.