[Economist: The Fed's rate cuts may exceed those of other countries] Golden Finance reported that Capital Economics said that the US dollar may fall further in the coming years as its valuation remains relatively high and faces the impact of unfavorable interest rate differentials and reduced safe-haven demand. Economist Shivaan Tandon said in the report that the Fed's rate cuts may exceed those of other countries, which means that interest rate differentials may continue to be unfavorable to the United States. "We also expect risk appetite to remain strong, suggesting that the dollar will continue to be under pressure." Despite concerns about a recession, the US economy appears to be on track for a soft landing. Capital Economics expects the US dollar index DXY to fall to 98 by the end of 2025.