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