1 In international foreign exchange markets, the US-Dollar has retained its dominant role, however the euro has established itself as the second most often traded currency. Notwithstanding its neutral stance, the ECB and the Eurosystem are following developments closely. Since 2001, the ECB has been publishing its so-called “Review of the international role of the euro” on a regular basis.
This review provides a detailed description of the euro’s use in the various segments of financial markets and in international trade. The latest “Review of the international role of the euro”, published in June 2007, reports that recent developments in the international use of the euro vary across global market segments.