这一次，美元的反弹恐难持续！一文探讨深层次原因

Group 1 - The core viewpoint of the article indicates that despite a recent attempt at a rebound, the US dollar is not regaining its status as a "safe-haven asset" this year, reflecting ongoing investor concerns about its stability [1][2]. - The decline of the dollar in January is seen as a continuation of weakness, with investor confidence in the global reserve currency being shaken, contrasting with previous significant sell-offs that were linked to external trade policy shocks [2][3]. - The ICE Dollar Index rose by 0.6% on Monday, but it has still declined nearly 1% over the past month and approximately 10% over the last 12 months, indicating a longer-term trend of dollar weakness [3][6]. Group 2 - Analysts from Barclays noted that the current dollar weakness is occurring in a context of economic resilience, suggesting a shift in investor perception regarding the risks associated with the dollar [2]. - The recent trade agreement with India, announced by President Trump, has not alleviated market concerns about potential disruptive shifts in US trade policy, particularly following threats of additional tariffs on European allies [2][6]. - DataTrek Research highlighted that the average decline of the dollar last month exceeded the monthly average for 2025, reinforcing the trend of dollar weakness that has persisted into early 2026 [6].