The world’s reserve currency has been weakening since May and recent trending behavior suggests the slide has room to run and so it’s time for a short recap of the implications and the outlook for what could be a major driver of investment results in 2021.

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* Democrats appear to win Georgia runoff elections and take control of Senate
* Congress expected to certify Biden’s win today
* VP Pence isn’t expected to try to block Biden’s election certification today
* Trump bars transactions with eight Chinese phone apps
* Second US stimulus payments has reached 2/3 of households’ bank accounts
* Hong Kong police arrest 53 pro-democracy lawmakers and activists
* Bitcoin tops $35,000–another record high
* GMO’s Jeremy Grantham warns of ‘epic bubble risk’
* US Treasury 10-year yield reaches 1% in overnight trading–highest since March
* China services sector expanded at slower pace in December via survey data
* US manufacturing activity accelerated to 2-1/2-year high in December: