On November 27, data released by the USA Department of Commerce showed that inflation in the USA has heated up again. Recently, large investment banks such as Barclays and Nomura have lowered their expectations for the Federal Reserve's interest rate cuts. Chen Yijing, head of the index investment department at Fubon Fund, stated that due to the strong forecast for the USA economy in 2025, the usd will remain strong in the first half of 2025, and overall, the usd index will still fluctuate at high levels. She expects that the pace of the Federal Reserve's interest rate cuts next year will be longer and slower than the market expects, with an anticipated reduction of 50 to 75 basis points, leading to a Federal Reserve rate range of 3.5% to 3.75% by the end of next year.