[Analysis: The dollar still has a lot of room to fall] Golden Finance reported that Adam Button, chief foreign exchange analyst at the financial website Forexlive, said that Powell has been dovish throughout his tenure, and he emphasized this today. It is clear that Powell does not want to fall behind the curve in the rate cut cycle and decided to take the initiative. He made it clear at the Jackson Hole conference that he does not want to see the labor market deteriorate further, and expects that if the employment data shows further weakness, there is a possibility of another 50 basis point rate cut in November. Until recently, the market believed in the "dollar exceptionalism", believing that US economic growth will perform well and interest rates will remain higher than other regions. Now it is clear that the Fed will cut interest rates as fast as other G10 central banks, or even faster. Therefore, if the Fed continues to do so, the dollar still has a lot of room to fall. Overall, this rate cut is a bold move, and I think history will judge it as correct. The bond market suggests that the fight against inflation has been won, and there is room for interest rates to fall all the way to 3% before the Fed has to stop and think.