Let's start with the US dollar. Inflation data like CPI$BTC can push up borrowing costs and thus influence the dollar's movement—this transmission mechanism is actually quite straightforward. But what's interesting is that behind this, there's an invisible game being played.

Trump has been trying to weaken the dollar. Tariffs, publicly criticizing Federal Reserve Chair Powell—these actions seem to aim at getting lower interest rates on the surface, but what he's really after is? Weakening the dollar. If the Fed's independence is questioned, investor confidence in the dollar will waver. Looking at some of his past aggressive remarks, they almost all corresponded with rebounds of the dollar at key resistance levels—that's no coincidence.

(DXY)US Dollar Index( has been hovering below 100 for a long time, which is exactly the situation he wants. What's the benefit of a weak dollar? Stock and commodity prices tend to rise more easily, which is friendly to economic data before the elections. At the same time, a cheaper dollar makes US goods more competitive, helping to improve the trade deficit—this has been a focus for Trump in recent months.

But here's the question: can he really keep the dollar down? Not necessarily. Monetary policy, fiscal policy, and even a strong rebound in manufacturing could all push up dollar demand. Plus, with the US economy performing well and ISM data trending upward, these factors support dollar appreciation in the long run.

In simple terms: in the short term, a weak dollar may continue to support asset markets, but there are many uncertainties in the medium to long term. For investors, the key is to keep a close eye on dollar movements and policy signals.