QCP Capital pointed out in its September 10 macro theme report that the Federal Reserve's September rate hike has locked in this tightening cycle. Among the 7 voting members, 6 leaned hawkish. Kashkari, Musalem, and Goolsbee all emphasized the broad nature of inflation and the real demand-side pressures. The policy rate is now at 3.75%-4.00%, confirming a restrictive bias. Subsequently, the Bank of Japan raised rates from 1.00%, with the next hike expected in Q4. The report stated that as central banks tighten simultaneously, support for the US dollar weakens. Leveraged funds have turned net long on the yen, while pound long positions are being closed. The US SEC approved tokenized stock exemptions, and Bitcoin ETF fund flows are nearing the 99th percentile. There is seasonal buying pressure in Q4, with Strategy resuming its accumulation of 950 BTC, costing $75.7 million. https://www.(wublock123.com)/news/qcp-federal-reserve-locks-in-september-rate-hike-cycle-weakening-support-for-us-dollar-68941