Evans-Pritchard expects the yuan to weaken to 6.70 per dollar by year-end and 6.90 by end-2022, downgraded from 6.20 for both years in the previous forecast.
The Thomson Reuters/HKEX Global CNH index, which tracks the offshore yuan against a basket of currencies on a daily basis, stood at 96.94, weaker than the previous day's 97.01.
"A significant delay to Europe's re-opening efforts will only widen the divergence between the economic outlook in Europe and the US," putting additional pressure on the euro, she said.
The Bank of Canada is seeing evidence of investor activity in some Canadian housing markets and is concerned that "fear of missing out" may also be driving price gains, Deputy Governor Toni Gravelle told Reuters on Tuesday.
"A key driver (for the Kiwi) is expected to be a continuation of the global recovery which should see commodity currencies outperform," Westpac analysts said in a note.
The dollar index stood at 91.866, having risen for the last three sessions, drawing support mainly from elevated US bond yields on the back of expectations of a strong economic recovery.
The euro weakened 0.2% to $1.1926 after rising last week for the first time in three weeks as latest data showed hedge funds slashed their net euro positions.