Specifically the Eurodollar is the main reason for the City of London to exist.
Eurodollars are US dollar deposits at European banks. Originally these were used as a way to give the Soviet Union access to the dollar markets through French banks, but eventually it became a way for basically anyone to participate in dollar exchange who can't have a US bank account.
Eurodollars are US dollar deposits at European banks. Originally these were used as a way to give the Soviet Union access to the dollar markets through French banks, but eventually it became a way for basically anyone to participate in dollar exchange who can't have a US bank account.
https://en.wikipedia.org/wiki/Eurodollar