2021 Global Market Outlook: The Old Normal

Currencies: U.S. dollar likely to weaken during recovery
The U.S. dollar should weaken amid the global economic recovery, given its counter-cyclical behavior. The dollar typically gains during global downturns and declines in the recovery phase. The main beneficiaries should be the economically sensitive commodity currencies—the Australian dollar, the New Zealand dollar, and the Canadian dollar. We believe the euro and British sterling are undervalued and expect that both currencies will be boosted by the post-vaccine recovery. 

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The views in this Global Market Outlook report are subject to change at any time based upon market or other conditions and are current as of December 7, 2020. While all material is ...

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