Dollar Stumbles Into 2021 as Bets on Global Recovery Dominate
- Bloomberg Dollar Index falls to lowest since February 2018
- JPMorgan Asset is underweight greenback, sees more EM gains
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The U.S. dollar kicked off the new year with a weak start as expectations for a global economic recovery bolstered demand for riskier assets.
It lost ground against almost every major currency on Monday, pushing a gauge of its strength to the lowest level in nearly three years, after purchasing managers indexes across Europe and Asia showed factory activity gathering pace.