Huatai Securities maintains the view of medium- to long-term pressure on the depreciation of the US dollar

According to ChainCatcher news, as reported by Jin10, Huatai Securities' research report indicates that the tariffs are expected to moderately push up core inflation in the U.S. in the third quarter, and there are differences in the market regarding the magnitude and duration of the inflation rise. The Federal Reserve is highly likely to restart the interest rate cut cycle in September. Although inflation is expected to rebound in the third quarter, it is anticipated to have limited constraints on the Fed's interest rate cuts in 2025. In the short term, the rebound in inflation will have a limited impact on U.S. Treasury yields, but after the implementation of the "Big and Beautiful" bill, U.S. Treasury yields will still face pressure. Huatai Securities maintains the view that the U.S. dollar will face depreciation pressure in the medium to long term.