Looking for USD weakness next year, especially against commodity currencies

  • See EUR/USD to 1.25 when the distribution of a COVID-19 vaccine or vaccines begins
  • Cable to 1.36 as Brexit resolved but then falling away
  • USD/JPY declining in 2021 but firming towards the end of next year as expectations of a Fed lift-off (in 2023) solidfy
  • AUD/USD to 0.77
  • NZD/USD to 0.74
  • USD/CAD to 1.23