It is expected that the interest rate cut will be the climax in September. I suspect that the US government is behind the dog market. If you short, they will sue you, and they will not cut interest rates. If you go long, they will release news of interest rate cuts. I guess no one will buy the bottom of the SGD 13. For now, the news is the main factor. Let's see what news comes from the US. We should also pay more attention to Hong Kong EFT. It shouldn't be so bad.