[Institution: Anticipated Global Currency Order May Continue to Restructure, Driving the Dollar's Long-Term Depreciation Trend] According to a report by Jinse Finance on April 13, a research paper from CICC stated that after the short-term factors boosting the dollar fade, the narrative of global currency order restructuring and the weakening of dollar hegemony may once again dominate market direction: The continuous accumulation of U.S. external net liabilities creates a stronger demand for dollar depreciation; the high uncertainty of Trump's policies and the unresolved risks of dollar 'weaponization' have also suppressed market demand for U.S. assets. If the 'balance sheet reduction' policy advocated by the new Federal Reserve Chair Walsh can be implemented, it would objectively help restore the dollar's credibility. However, Walsh's policy is constrained by the resilience of the real economy, financial markets, and political limitations, while Trump's foreign, trade, and economic policies continue to negatively impact the dollar's credibility. Considering the overall impact of Walsh and Trump's policies, it is difficult to conclude that the dollar's credibility will improve in the future. We anticipate that the global currency order may continue to restructure, driving the dollar to maintain a long-term depreciation trend. (Jin10)