The decline of the US dollar last night was affected by economic data. All economic data deteriorated within one day, all pointing to the direction of the Fed's interest rate cut. The market believes that the possibility of a rate cut in September has increased to more than 70%.

US companies added 150,000 jobs in June, less than the expected 165,000;

The US ISM service industry index in June fell to 48.8 (market expectations were 52.7), weaker than all economists' expectations, and entered the contraction range;

The number of initial jobless claims in the United States last week exceeded expectations (increased to 238,000, slightly higher than the expected 235,000), while the number of people who continued to apply for unemployment benefits rose for the ninth consecutive week, in line with the overall trend of loosening in the job market.

The reaction of risk assets after the release of US data was "the dollar fell, everything rose".

There was news about Biden's election in the market these two days, but a White House spokesman denied last night that Biden was considering withdrawing from the campaign.