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EUR/USD Exchange Rate Sinks as Europe Faces Christmas Lockdowns
The Euro to US Dollar (EUR/USD) exchange rate fell by -0.3% today, with the pairing currently trading around $1.22.
The Euro (EUR) struggled today following the release of the flash Eurozone Consumer Confidence data, which fell by -13.9.
As a result, EUR traders are becoming concerned for the Eurozone’s economy as several key economies in the bloc – included the largest, Germany – have re-entered national lockdowns.
Meanwhile, the DIW institute has predicted that the Germany economy could shrink by -1% in the fourth quarter, topping the first quarter’s downturn.