PAnews reported on September 16 that according to Jinshi, the US dollar fell during the Asian session on Monday as traders increasingly bet on a 50 basis point rate cut by the Federal Reserve this week. The decline in the US dollar boosted major currencies such as the yen, which rose to its highest level since July 2023. After weeks of debate over whether the Federal Reserve will start its easing policy with a 25 basis point or 50 basis point rate cut, traders are leaning towards the latter option. Futures prices linked to the Fed's decision to cut interest rates this week show a probability of about 58% for a 50 basis point cut, compared with a 50-50 forecast late last Friday. "We believe that the Fed is about to usher in a new round of easing cycle, which is a major negative factor for the US dollar," said Rodrigo Catril, a strategist at the National Australia Bank. "As the Fed eases monetary policy next year and lowers the funds rate to neutral or even below neutral, the US dollar will begin a cyclical decline."