Zhi Tong Cai Jing·2025-08-05 22:35Group 1 - Despite a significant rebound in the dollar index (DXY) with a 3.2% increase in July, Wall Street forex strategists remain bearish on the dollar's long-term prospects [1] - The recent strong GDP data and the adaptation to tariff policies temporarily boosted the dollar, reversing previous declines [1] - Concerns over the reliability of U.S. economic data have been raised due to weak employment figures and the firing of the Bureau of Labor Statistics chief [1] Group 2 - The upcoming non-farm payroll report on September 5 is critical, with market attention on data credibility and collection methods [2] - There are concerns that a strong employment report could lead to suspicions of data manipulation, especially with a new appointee expected to be a Trump loyalist [2] - The resignation of Fed Governor Kugler has sparked speculation about potential nominees, which could influence market perceptions of future Fed policies [2] Group 3 - Barclays' forex strategy head believes Kugler's departure opens a new window for short-term dollar weakness, but does not foresee excessive depreciation by 2025 [3] - Both Goldman Sachs and Barclays favor a bullish outlook on the yen against the dollar, highlighting the yen's appeal as a safe-haven currency in uncertain times [3]