So why is the dollar so weak? In particular, the US dollar depreciated by 12% against the euro. In other words, the RMB has depreciated against the euro in the past six months, so we should not talk lightly about the irrational comprehensive appreciation of RMB. Old traders in international finance know that there are many demons in the election year of the United States. In the exchange rate market, the Republican party emphasizes efficiency, holds high the big stick of trade war and foreign affairs provocation, and pursues a strong dollar policy; while the Democratic Party pursues equality, likes to engage in national health care and diplomatic doggerel, and weakens the choice of the dollar. At least, todays dollar index has returned to the level it was when trump was elected four years ago. Financial markets are zero this time, and there is no bet on either side.