{
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  "source_retrieved_at": "2026-10-07T14:18:17.889247+00:00",
  "source_url": "https://data-api.ecb.europa.eu/service/data/EXR/D.USD.EUR.SP00.A?startPeriod=2016-01-01&endPeriod=2025-12-31&format=csvdata",
  "formula_simple_inverse": "s = -r / (1 + r), r and s as fractions, not percentage values",
  "formula_log_inverse": "ln((1/P_t)/(1/P_previous)) = -ln(P_t/P_previous)",
  "units": "USD per EUR and reciprocal EUR per USD; changes and drawdowns expressed in percent",
  "policy": "Consecutive published observations only; no filling missing dates. Each subperiod resets predecessor and running peak. Full period includes the 2020/2021 bridge.",
  "limits": "Reference-rate changes and declines from earlier peaks, not account equity, executable bid/ask quotes, strategy returns or leveraged losses. No spread, slippage, commission, financing or intraday path."
}