Oliver Mangan: Resilient dollar could be tested by global economic recovery

Covid-19 vaccines becoming widely available over the course of 2021 should lay the foundations for a period of sustained, robust growth by the global economy over the next couple of years, with the US economy no longer an outperformer

Global economic recovery could test the dollar's value and lessen its appeal as a safe-haven currency.

The dollar lost 12.5% in value against the other major currencies between last spring and early January.

It was a steady move down by the currency as risk appetite returned to markets over this period and safe-haven flows unwound, helped by positive developments on Covid vaccines in the closing months of last year.