The recent fluctuation of the RMB exchange rate against the US dollar has increased, which is mainly related to the market's expectation of monetary policy easing. At the same time, the recent hawkish stance of Federal Reserve officials has triggered the market's expectations of the Federal Reserve to raise interest rates again in July and the strengthening of the dollar. However, although the volatility of the RMB exchange rate has increased, there is no basis and room for substantial depreciation.

With the Federal Reserve suspending interest rate hikes, the risk of the US government debt ceiling has been resolved, the risk aversion has declined, and the downward pressure on the economy has gradually emerged. The dollar index correction is expected to continue. On the contrary, the Chinese government has successively implemented policies and measures to promote economic recovery, and the results have gradually shown. Stronger internal drivers of economic growth will provide effective support for the RMB exchange rate. Buyers can grasp the exchange rate dividend period and purchase.