The dollar slid to its lowest in more than two years on Wednesday and riskier currencies gained, as investors looked past rising COVID-19 infections and the latest delay in US fiscal stimulus talks to bet on an economic recovery in 2021.
But market sentiment was upbeat as investors remained optimistic that a stimulus deal will be eventually reached and that COVID-19 vaccines will facilitate a global economic recovery, lessening demand for the safe-haven dollar.
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Analysts expect the dollar to weaken further in 2021 as US President-elect Biden is expected to push for even more measures to support the US economy.
