Community Forex Questions
Why is EUR USD called fiber?
If you trade forex, you should be aware of the Fiber. The EUR/USD is by far the most traded currency pair in the world. The nickname "Fiber" has two meanings: on one hand, it is a play on the fact that the GBP/USD is known as Cable, whereas the Euro is a newer currency. On the other hand, Europe is said to have the world's fastest optical fiber network.
The nickname "Fiber" for the EUR/USD currency pair originates from the word "cable," which is the traditional term for the GBP/USD pair.
In the early days of telegraphic trading, the GBP/USD rate was transmitted via transatlantic cables, earning it the name "Cable." When the Euro (EUR) was introduced in 1999, traders needed a distinct term for the EUR/USD pair. Since fiber-optic cables were becoming the modern standard for high-speed data transmission, the name "Fiber" was adopted as a nod to technological progress while maintaining a connection to the older "Cable" terminology.
Today, "Fiber" is widely recognized among forex traders, symbolizing the Euro's importance in global markets while differentiating it from other major currency pairs.
In the early days of telegraphic trading, the GBP/USD rate was transmitted via transatlantic cables, earning it the name "Cable." When the Euro (EUR) was introduced in 1999, traders needed a distinct term for the EUR/USD pair. Since fiber-optic cables were becoming the modern standard for high-speed data transmission, the name "Fiber" was adopted as a nod to technological progress while maintaining a connection to the older "Cable" terminology.
Today, "Fiber" is widely recognized among forex traders, symbolizing the Euro's importance in global markets while differentiating it from other major currency pairs.
Dec 30, 2022 23:58