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The world has become somewhat uncontrollable. This friction arises from the intense competition among multiple forces during the transition phase of the economic cycle, which is often inevitable but carries a lot of uncertainty. The competition between China and the US, as the two largest economies, is the main theme of global power struggles.

Many people have a question: The Federal Reserve has already cut interest rates twice and entered a rate-cutting cycle, so why is the US dollar index continuously rising and setting new highs?

From a logical perspective, as long as the Federal Reserve starts cutting interest rates, the dollar is likely to depreciate. However, the current situation is quite the opposite, and there are multiple factors at play.