Group 1 - The market is pricing in an unusually accommodative monetary policy during the new Federal Reserve Chair's term starting in Q3 2026, deviating from historical norms [2] - The probability of a rate cut by the Federal Reserve in July is currently at 20.7%, an increase from the previous week, with traders fully pricing in a rate cut for the September meeting [2] - Analysts from various institutions, including Deutsche Bank and JPMorgan, expect further rate cuts in response to economic slowdowns and geopolitical factors [2][3] Group 2 - Asian currencies, such as the Singapore dollar and South Korean won, are strengthening against the US dollar due to expectations of Fed rate cuts and easing geopolitical tensions [3] - The recent decline in US housing data, with May's pending home sales dropping from 722,000 to 623,000, supports the outlook for rate cuts [3] - Concerns over the US political environment are leading to a decrease in the attractiveness of the dollar, with 70% of surveyed central banks expressing worries [3] Group 3 - UBS analysts predict that US interest rates will decline faster than those in G10 countries, which could catalyze an appreciation of the euro, forecasting an end-of-year euro to dollar exchange rate of 1.23 [4]