Live Breaking News & Updates on Exchange Rate Steady On Underwhelming Eurozone Data

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. ....

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