  The Euro (EUR) has been a currency introduced by the European Community on
Jan. 01, 1999. This implies eleven countries of the European Union which have
been found to meet the five requirements of the Maastricht convergence
criteria. In order to test EUR behavior and understand various features, we
have extrapolated the EUR backwards and therefore have obtained a {\it false
euro} (FEUR) dating back to 1993. We have derived the exchange rates of the
FEUR with respect to several currencies of interest not belonging to the EUR,
i.e., Danish Kroner (DKK), Swiss Franc (CHF), Japanese Yen (JPY) and U.S.
Dollar (USD). We have first observed the distribution of fluctuations of the
exchange rates. Within the {\it Detrended Fluctuation Analysis} (DFA)
statistical method, we have calculated the power law behavior describing the
root-mean-square deviation of these exchange rate fluctuations as a function of
time, displaying in particular the JPY exchange rate case. In order to estimate
the role of each currency making the EUR and therefore in view of identifying
whether some of them mostly influences its behavior, we have compared the
time-dependent exponent of the exchange rate fluctuations for EUR with that for
the currencies that form the EUR. We have found that the German Mark (DEM) has
been leading the fluctuations of EUR/JPY exchange rates, and Portuguese Escudo
(PTE) is the farthest away currency from this point of view.
