Group 1 - The core viewpoint is that the recent appreciation of the Renminbi against the US dollar is driven by expectations of an imminent interest rate cut by the Federal Reserve, leading to a significant decline in the dollar index, which provides upward momentum for non-dollar currencies including the Renminbi [1][2][3] - The market is currently anticipating a potential interest rate cut of 25 basis points by the Federal Reserve, with expectations of further cuts later in the year, which has led to a strong performance of the Renminbi [2][3] - The Renminbi's exchange rate is expected to maintain a stable and strong trend, with potential testing of the 7.00 level against the US dollar if the Federal Reserve adopts a clear easing monetary policy [4][5] Group 2 - The recent inflow of foreign capital into the domestic stock market has increased demand for currency exchange, improving market sentiment and supporting the Renminbi's strength [1][5] - The expectation of a concentrated release of currency exchange funds by Q4 2025 is anticipated to further enhance the Renminbi's appreciation potential, given the structural weakness of the dollar index [5] - The management of the exchange rate will continue to follow a "bottom-line thinking" approach to prevent both consistent depreciation and appreciation expectations, ensuring a balanced currency market [4][5]