Market action discounts everything! This means that the actual price is a reflection of everything that is known to the market that could affect it.

The main reason for “maintenance margin” is to ensure the necessary amount is available in the event of a “gap” or “slippage” in rates.

The nominal bilateral US dollar to euro exchange is the exchange rate that attracts the most attention. Notwithstanding the comparative importance of bilateral trade links with the US, trade with the UK is, to some extent, more important for the euro.