Powell's speech raises expectations for rate cuts, strong return of dollar short positions.

[Bitu] According to reports, Helen Given, the trading director of Monex USA, stated that the dollar short positions made a strong return today, mainly influenced by Powell's speech in Jackson Hole and Trump's threat to fire Fed Governor Cook. Powell pointed out that the downside risks in the labor market have increased in weight in the Fed's decision-making, leading to a significant increase in the market's probability of a 25 basis point rate cut in September. Traders believe that the possibility of another rate cut within the year is also considerable, with the overnight swap market betting for the first time on significant easing in the first half of 2026. Trump's remarks have raised concerns about the independence of the Fed.