Cryptocurrencies: 5,992
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Global market data

Cryptocurrencies: 5,992
Markets: 545
Marketcap: $ 581.72 B
24h Vol: $ 114.70 B
BTC Dominance: 60.58%

[ZEROHEDGE] Goldman, Citi See Dollar Sliding In 2021, Plunging As Much As 20%

Zero Hedge

Goldman, Citi See Dollar Sliding In 2021, Plunging As Much As 20%

Tyler Durden

Mon, 11/16/2020 – 11:25

Wall Street latest top consensus trade for 2021 has quickly emerged as a dollar short. After Deutsche Bank flip-flopped on its view for the dollar, first closing out its long-running dollar short then reversing itself just days later and renewing its USD short , other banks have joined the bandwagon expecting a major drop in the world’s reserve currency in the coming year.

In a Friday note from Goldman’s chief FX strategist Zach Pandal, he predicts that “depreciation in the broad Dollar can continue in 2021” and writes that his USD cross forecasts translate into a 6% decline in the broad trade-weighted Dollar index over the next 12 months, and a “sustained but orderly” 15% real depreciation from its 2020 peak to the end of 2024.

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