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The Currency Pair EUR/USD is the shortened term for the euro against the U.S. dollar pair, or cross for the currencies of the European Union (EU) and the United States (USA). The currency pair indicates how many U.S. dollars (the quote currency) are needed to purchase one euro (the base currency). Trading the EUR/USD currency pair is also known as trading the "euro." The value of the EUR/USD pair is quoted as 1 euro per x U.S. dollars.