【The Renminbi Hits a New Low Since Last November: Analysts Cite Three Main Reasons】Jin10 Data, December 3 - This morning, the offshore Renminbi fell below 7.31 against the US dollar, reaching a low of 7.3148 yuan, a new low since last November, with a drop of about 280 points during the day. Meanwhile, the US dollar index continues to soar, and non-US currencies have seen declines for two consecutive days. So, what exactly triggered the turmoil in the foreign exchange market, and what impact will it bring? Analysts believe there are three main reasons: First, the euro exchange rate plummeted yesterday, with the euro falling against the US dollar by more than 1% at one point. French Prime Minister Barnier forcefully passed the French budget, putting the government at risk of collapse. Second, Bank of America strategists stated that investors underestimated the trade war risks during Trump's presidency, predicting that emerging market currencies would drop by 5% in the first half of next year, with sovereign debt facing sell-offs. Third, recently, Trump issued threats on his own social media platform 'Truth Social,' demanding that BRICS nations abandon any plans to create a new currency or support alternatives to the dollar, or face a 100% tariff on any country challenging the dollar's dominance in the global economy. (Securities Broker China) (Reprinted from: Jin10 Data)