the US dollar plummets, causing the offshore RMB to rise above the 7.14 mark against the US dollar

At 2:00 am Beijing time on December 14th, the Federal Reserve issued a decision to keep the target range of the federal funds rate unchanged at 5.25% -5.5%, still at its highest point in 22 years, in line with market expectations. However, due to the overall dovish signals conveyed by the dot matrix, economic forecasts, and speeches by Federal Reserve Chairman Powell, the market expects that this round of Fed rate hikes may have ended, and the US dollar index has fallen from above 104 to below 103, with the lowest drop on December 14th reaching 102.7417.