The EUR and USD are the most widely traded currency pairings across the FX world. Their respective economies are also the world's 2 largest. The EUR, alongside the USD, is also a major global currency reserve. While both are influenced by central banks, the Eurozone does not have central control on fiscal policy across member states. Monetary policy divergence and geopolitics also provide volatility across the pairing. The pair account for 28% of total transaction volume in the FX market.