According to ChainCatcher, Mitsubishi UFJ analyst Lee Hardman said in a report that the Fed's latest interest rate decision increases the possibility of further appreciation of the US dollar in the first half of 2025. US interest rates are expected to remain at higher levels for a longer period of time, resulting in greater policy divergence from other major central banks. Expectations of widening policy divergences, coupled with the looming risk of higher tariffs at the beginning of Trump's second term, will keep the US dollar under upward pressure next year.