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This is due to the fact that the dollar has been the world's most dominant currency in the past 65 years. The major currencies in the market today are always measured against the dollar. For example, the value of the Euro, its strengthening or weakening is measured relative to the American dollar. The reason for the dollar to be such a strong market force in the foreign exchange market is due to its reserve currency status, which makes it the most widely distributed and used currency. That is another reason why some of the other major existing and potentially strong currencies are pegged against the dollar...
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