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Vaccine rollout could cause U.S. dollar to fall 20% in 2021: Citi
The widespread distribution of vaccines to combat the coronavirus pandemic and ongoing monetary easing could cause the U.S. dollar =USD to weaken as much as 20% next year, Citibank said on Monday. “When viable, widely distributed vaccines hit the market, we believe that this will catalyze the next leg lower in the structural USD downtrend we expect,” the U.S. bank said in a research note. “Given this set-up, there is the potential for the dollar’s losses to be front-loaded, with the USD potentially falling by as much as 20% in 2021.” Moderna Inc said on Monday its experimental vaccine was 94.5% effective in ... (full story)
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