The Euro is the official currency of the European Union and is used by 19 of its member states. It is the second most widely used currency in the world after the US Dollar. The Euro is a major component of the global foreign exchange market and is used in a variety of investments, including stocks, bonds, commodities, and derivatives. It is also used to hedge against currency risks, such as risk associated with fluctuations in the exchange rate. The Euro is an important tool for investors as it provides access to European markets, and allows for efficient hedging of currency risks across the continent.