FXStreet reports that Morgan Stanley analysts foresee 2021 as another big year for liquidity injection. 

"On our projections, G10 central banks will inject another US$2.8 trillion of liquidity next year – just in their government bond purchases. That's more than twice the amount of liquidity central banks injected in any year prior to the one drawing to a close," Morgan Stanley analysts said. 

"The US dollar has further to fall against a host of G10 and emerging market currencies next year, and the safest investment of all – US Treasuries – will struggle to make ends meet. Scarce assets such as gold could also benefit from the massive liquidity injections," the investment bank said.