Robert Mialich, a foreign exchange strategist at UniCredit, said the Federal Reserve is likely to cut interest rates by 25 basis points next week instead of 50 basis points, which would be positive for the dollar but have little impact. Mialich said a 25 basis point rate cut means the Fed does not intend to ease policy aggressively, which may prevent the dollar from falling further but is unlikely to trigger a strong recovery. "The euro against the dollar is likely to continue trading above 1.10," he said. However, if the Fed cuts interest rates by 50 basis points, the currency pair may break through 1.12, as this would indicate that the U.S. economy is worse than the data shows. (Jinshi)