According to Jinshi Data, traders built up a short position of up to $17.3 billion in the U.S. dollar in anticipation of an easing cycle in the U.S. However, after the Fed cut interest rates by 50 basis points for the first time and the rate cut was larger than expected, the short position was sold. As of the Fed's interest rate decision on November 7, the size of the short position in the U.S. dollar had shrunk to only $800 million. Traders shorted the dollar against the Australian dollar, the Japanese yen, the euro and the Mexican peso, and the size of the short position in the dollar against the British pound was also large. The long positions of the dollar against the Swiss franc and the Canadian dollar balanced these short positions, among which the long position of the dollar against the Canadian dollar was large.