On October 30, the offshore RMB tested the 7.15 barrier against the USD. However, after the lunch break, the RMB started to strengthen slightly, trading around 7.14. The A-share market was also in a volatile downward trend. As the market bets on a 'red sweep' in the USA elections, the pressure on non-USD currencies intensifies. Many bank traders mentioned to reporters that the USD index had briefly broken through 104.5. The market is reestablishing a large number of hedging positions related to Trump, despite the impact of hurricanes and strikes potentially leading to softer non-farm payroll data on Friday. With the USA election results just days away, it is unlikely the market will significantly sell off the USD. It is reported that recently there has been a high volume of USD buying in both onshore and offshore markets, with a lack of selling pressure from intermediaries. Goldman Sachs believes this phenomenon is related to the market's increasing concerns about a Trump victory. However, according to reporters, some domestic banks still seem to be stabilizing the RMB through the forward market, and investors still hold a positive view on the latest round of stimulus measures in China. Therefore, it is not ruled out that after the overseas events settle down, recent profits from overseas hedge funds may once again flow in and drive a rebound in the Chinese stock market. (China Business News)