Glonghui, September 26 | China Financial Times front-page article said that for market participants, we must insist on risk neutrality. The exchange rate is formed from market transactions. Currently, there is still a lot of external uncertainty. Under the premise that the RMB exchange rate remains basically stable, no one can make an accurate judgment on the short-term trend of the exchange rate. It may either appreciate or depreciate. Two-way fluctuations are normal. Financial institutions, enterprises, and even individual residents must establish a risk-neutral concept and not gamble on the direction of exchange rates. Judging from past experience, betting on the unilateral appreciation or depreciation of the exchange rate often causes unnecessary losses. The impact of the current Federal Reserve interest rate cut on our country should be viewed from the following aspects. First, in the short term, interest rate cuts in major economies have significantly reduced external pressure on the RMB exchange rate. Second, in the medium to long term, there is a solid foundation for maintaining basic stability in the RMB exchange rate. Thirdly, judging from the policy space, the People's Bank of China is capable of dealing with any fluctuations in interest rates, and can continue to keep the RMB exchange rate basically stable at a reasonable equilibrium level.