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The EUR/GBP currency pair, which expresses the value of the euro in terms of the British pound sterling, is an important signal for FX market's assessment of the euro's value. While EUR/USD is typically viewed as the most important barometer of the euro, important USD trends can distort our perspective. The U.S. dollar is the world's reserve currency, while the euro is effectively a competing reserve currency. USD tends to represent around 60% of major central bank FX reserves, while EUR represents closer to 20%.