Core Viewpoint - According to Bank of America, the US dollar is likely to weaken from the current point if historical trends are considered [1] Group 1: Economic Analysis - The report indicates that if the Federal Reserve lowers interest rates in 2025, it will likely occur against a backdrop of rising year-on-year inflation, a scenario that is historically rare [1] - The last occurrence of rising inflation during a rate cut was noted between the second half of 2007 and the first half of 2008 [1] Group 2: Impact on the Dollar - When interest rates are cut amid rising inflation, it tends to lower the real policy rate in the US, leading to a depreciation of the dollar [1] - The analysis suggests that the dollar may experience a more severe depreciation before the Fed's rate cut, with a continued bearish trend for three months following the cut [1]