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The EURUSD is one of the most traded currency pairs around. The Euro being the official currency of most member states in the European Union, and the largest world currency US Dollars. This foreign exchange pair is followed by tourists between each area, business exporters and more importantly banks or trading institutions. The EURUSD rate is affected heavily by economic data from each nation. Factors such as interest rates, unemployment figures, manufacturing output are just some of the pieces of data which send this FX rate crazy. If you are trading this currency, make sure you use an economic data calendar and be aware of the data which is due to be released. Being in a trade on the wrong side of a key interest rate decision is neither fun, nor recommended.
The price quotes in our chart for GBPUSD is real time 24 hours a day, Monday to Friday. It's an actual market rate, so it may differ slightly to a quote at your broker, due to spreads and various other factors. It's a double edged sword, if brokers didn't add spreads, they wouldn't make their money, and we wouldn't have access to the market, but we would get a better rate!
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