There are main significant reasons why the U.S. dollar plays a central role in the forex market

 There are main significant reasons why the U.S. dollar plays a central role in the forex market:

1. The Dollar is King in the Forex Market.

2. The United States has a stable political system.

3. The U.S. dollar is the reserve currency of the world.

4. The United States is the world’s sole military superpower.

5. The United States economy is the LARGEST economy in the world.

6. The euro’s share is second at 39.1%, while that of the yen is third at 19.0%.

7. The U.S. dollar is the most traded currency, making up 84.9% of all transactions!

8. The United States has the largest and most liquid financial markets in the world.

9. The U.S. dollar is the medium of exchange for many cross-border transactions. For example, oil is priced in U.S. dollars. Also called “petrodollars.” So if Mexico wants to buy oil from Saudi Arabia, it can only be bought with the U.S. dollar. If Mexico doesn’t have any dollars, it has to sell its pesos first and buy U.S. dollars.

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