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Citibank: The US dollar may fall 20% in 2021
Citibank said on Monday that a widespread distribution of vaccines to fight the coronavirus pandemic and the ongoing monetary easing in the United States could cause the US dollar to weaken by up to 20 percent next year.
Moderna said on Monday that its experimental vaccine has proven 94.5 percent effective in preventing Covid-19 infection, becoming the second American company in a week to announce results far exceeding expectations.
Citibank also bases its view on betting that the US central bank will continue to accommodate monetary policy even if inflation expectations rise as the economy recovers.
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