PANews reported on September 16 that according to Jinshi, HSBC said that if the Federal Reserve cuts interest rates by 25 basis points on Wednesday and signals further gradual easing of policy, the US dollar may rise. Paul Michael, a foreign exchange analyst at HSBC, said in a report that it is difficult to say whether the Federal Reserve will cut interest rates by 25 basis points or 50 basis points. "HSBC Economics expects the Federal Reserve to start with a 25 basis point rate cut while hinting at further easing in the future, but not by much." Michael said that this situation would put the US dollar "on a better footing", especially considering that the market has overpriced in interest rate cuts and there are signs that there are too many short positions in the US dollar.