Odaily Planet Daily News: Societe Generale Bank analyzed that the Federal Reserve may start cutting interest rates in September, but any depreciation of the US dollar will be limited. The bank's foreign exchange strategists said that the rebound of the US dollar in 2021-2022 provides ample room for downward corrections, but unless the US economy slows much more than expected, it is "very unlikely" that US interest rates will be close to the level before the outbreak of the 2020 COVID-19 pandemic. They said that the biggest fluctuation should be the US dollar against the yen, which may fall from the current 156.197 to 140 in early 2025. The yen is the currency hardest hit by rising US interest rates and yields. They said that at some point in 2024 or 2025, the euro may rise from the current 1.0850 to 1.15 against the US dollar. (Jinshi)