The head of department of analytical research at the Graduate School of Financial Management Kogan named the worst currency for purchase in 2021.

He noted that most currencies are vulnerable to weakening against the backdrop of redemption of assets by central banks and cuts in key rates. Traditional save-haven currencies such as the Japanese yen and the Swiss franc are also at risk.

“In the category of reserve currencies, we can talk about the predominant opinion about the weakening of the dollar in the coming months,” the expert said. At the same time, he stressed that the eurozone economy suffered from the pandemic more than the American one. Therefore, the euro is one of the probable candidates for weakening.

Not everything is obvious with safe-haven currencies, which grow during a period of risks. So, if the economy starts to recover, funds from the Japanese yen and Swiss franc may be transferred to riskier assets. Moreover, the British pound may face difficulties, which may sink for some time.

At the same time, the Chinese yuan and the Russian ruble have good chances of strengthening. Therefore, the Russian currency may strengthen if the sanctions risks do not materialize, and oil continues to rise in price, the agency’s source said.