European Central Bank Exchange Rates
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The United States' position as an international superpower is mirrored by its currency – the ever prevailing U.S. dollar – which served as one of the world's most used currencies in the world. Also is the major reserve currency in the world in the next decades after World Wide II. Euro, a newborn currency, gradually challenges the U.S. Dollar as it recently progresses into a major reserve currency in the European central bank exchange rates. This pressing condition concerns the euro currency rate against the U.S. dollar. Initially, the U.S. dollar overpowered the euro during the first couple of years after the common European currency has been introduced to the world. However, in the following years, foreign exchange traders were able to observe that the euro has been maintaining a steady rising trend hence the euro currency rate against the U.S. dollar progressively increased. 
These two currencies make up a major currency pair, which is among the most traded in the foreign exchange market. The European central bank exchange rates are vital not only to the common currency trades but also to every government under the scope of the Eurozone as well as to every single country who has euro as its national currency. Moreover, the exchange rate between the euro and the U.S. dollar is a key indicator that tells the economic growth of the European Union in comparison to that of the United States of America. 
Generally, governments influence the euro exchange rate against the U.S. dollar by means of interest rates. They are a powerful tool controlled by central banks but nonetheless the Federal Reserve and the European Central Bank (ECB) exercise it with enough prudence. The ECB would rather not interfere with the workings in the foreign exchange market; instead, the central bank governors attempt to influence the euro exchange rate by resorting to other means. The circumstances that occur in the Eurozone as well as the economic development of all the countries involved are crucial as these can affect the euro exchange rate. In May 2010, the euro declined to a 14-month low against U.S. dollar due to the reports that Greece was experiencing serious financial problems and that the financial support to the country can obstruct the financial stability of the Eurozone. The euro exchange rate against the dollar is unpredictable; in a single trading day it could reach up to 4 per cent. The largest daily gain of euro was recorded on March 18, 2009 when it jumped by 3.9 per cent against U.S. dollar, according to Reuters. In the past, the European central bank exchange rates have gone through many gains and losses against the U.S. dollar though most market analysts believe that the euro will continue to challenge it in both short- and mid- term. But since the foreign exchange market is extremely volatile, experts and economists around the world closely observe the ever changing rate between this major currency pair.
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