野村：美元或因美国例外主义消退及其他因素进一步走弱

Core Viewpoint - Nomura Securities analysts predict that the US dollar may weaken further due to the decline of American exceptionalism, with expectations extending into the second half of next year [1] Factors Influencing Dollar Weakness - Concerns regarding the US fiscal and current account are impacting the dollar's strength [1] - Asset reallocation and foreign exchange hedging are contributing to the anticipated decline [1] - Uncertainties surrounding Trump's tariff and non-tariff policies are also influencing the dollar's outlook [1] Regional Trade Agreements - Asian trade agreements may involve the appreciation of undervalued currencies, potential repatriation of foreign investments, and foreign exchange hedging [1] - These factors collectively support a stronger stance on shorting the US dollar against the South Korean won [1] Future Projections - The dollar is expected to potentially decline to 1300 against the South Korean won in the coming months [1]