the US Dollar Index is currently hovering near a 41-month low, with the S&P 500 Index and the Nasdaq Index both reaching record highs, and US bond yields nearing their April lows. The market fully reflects expectations of a 25 basis point rate cut by the Federal Reserve. If only this rate cut is realized, the US dollar may rebound, and the US stock market faces profit-taking. Sustaining the decline in the US dollar and the rise in US assets may require a 50 basis point rate cut, although the market believes the probability of a 50 basis point rate cut is only 3%.