Cinda Securities: Global liquidity has reached a tightening range, and the US Dollar Index may enter a wide fluctuation phase in the second half of the year

If oil prices return to pre-conflict levels, the inflationary pressure caused by geopolitical conflicts is expected to ease accordingly. In this case, the bank believes that the motivation for the Federal Reserve to raise interest rates may weaken, with rate hikes possibly being postponed further. The US Dollar Index is highly likely to enter a stage of wide-ranging fluctuations in its operational pivot during the second half of the year, repeatedly struggling as geopolitical tensions recede.