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HISTORICAL EVENTS IN THE FX MARKET

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HISTORICAL EVENTS IN THE FX MARKET INTRODUCTION OF THE EURO (1999) ____________________________________________________ The introduction of the euro was a monumental achievement, marking the  largest monetary changeover ever. The euro was officially launched as an  electronic trading currency on January 1, 1999. The 11 initial member states  of the European Monetary Union (EMU) were: Belgium, Germany, Spain,  France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, and  Finland. Greece joined two years later. Each country fixed its currency  to a specific conversion rate against the euro, and a common monetary  policy governed by the European Central Bank (ECB) was adopted. To  many economists, the system would ideally include all of the original 15  European Union (EU) nations, but the United Kingdom, Sweden, and Den mark decided to keep their own currencies for the time being. Euro notes  and coins did not begin circulation until the first two months of