东吴证券：市场已充分定价3次的降息次数 降息并不一定导致美元大幅走弱

Core Viewpoint - The market has fully priced in three interest rate cuts, with no further upward adjustment expected for the total number of cuts this year [1] Group 1: Economic Indicators - Weak employment has led to a pessimistic outlook on the U.S. economy, but leading indicators suggest signs of recovery [1] - If the economy performs better than expected, the expectations for rate cuts may further diminish [1] Group 2: Impact on the Dollar - Rate cuts do not necessarily lead to a significant weakening of the dollar [1] - Historical analysis shows that preemptive rate cuts result in an average dollar decline of 0.91% one week later, but the decline narrows and turns into an increase over the following month, with average increases of 0.84% and 2.02% over three and six months, respectively [1]