Dollar Falls to 2018 Lows as Vaccine Optimism Damps Haven Demand
- Losses come amid optimism over effective Covid-19 vaccine
- Citi, Goldman and Morgan Stanley among banks bearish on dollar
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The dollar dropped to a two-and-a-half year low as the prospect of vaccine roll-outs added to headwinds for the world’s reserve currency.
The Bloomberg Dollar Spot Index fell as much as 0.2% to an April 2018 low after U.S. officials said vaccinations may start in less than three weeks. The pound and the Norwegian krone led gains against the greenback Monday, while the yield on 10-year U.S. Treasuries rose three basis points to 0.86%.