U.S. dollar may fall 20% next year due to vaccine rollout: Citibank

U.S. dollar may fall 20% next year due to vaccine rollout: Citibank

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.

“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. 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,” the U.S. bank said in a research note.

Moderna said its experimental vaccine was 94.5% effective in preventing COVID-19.

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