Risk factors continue to accumulate. Options signals show that the strength of the US dollar is fading.

The signals from the foreign exchange options market indicate that the US dollar will face a new round of pressure, coinciding with a series of risk factors that may weigh on the dollar in August. Bloomberg's US dollar spot index's one-month risk reversal indicator has turned negative for the first time in two weeks, indicating that the market tends to take protective measures against a weaker dollar. This pricing adjustment reflects the market's expectation that bearish forces may regain dominance. Multiple macro catalysts are fermenting. Traders are closely watching whether the Federal Reserve's July meeting will release dovish signals, while also worrying about Washington's policy uncertainty and the Fed's independence issues. New tariff announcements and continued weak US economic data may further weaken the dollar sentiment.