March 3, 2021 - Written by John Cameron EUR/USD Exchange Rate Rangebound as EU Lockdowns Weigh on Eurozone Economy The Euro to US Dollar (EUR/USD) exchange rate was largely muted today, with the pairing currently fluctuating around $1.20. The Euro has suffered this week owing to largely underwhelming Eurozone economic data. Germany’s retail sales for January tumbled by -4.5, despite forecasts for a more modest contraction of 0.3%. The Federal Statistics Office commented: ‘This decline can be explained by the ongoing coronavirus lockdown, which meant a closure of many retail stores since Dec. 16, 2020.’ Today also saw the publication of the latest Eurozone PMI Composite report for February, which came in at a lacklustre 48.8.