According to Jinshi Data, the U.S. dollar retreated after hitting a three-month high on Tuesday. The earlier rise in the dollar was primarily driven by safe-haven inflows and the surge in oil prices due to U.S.-Iran tensions. In a report, Jefferies economist Mohit Kumar noted that Trump's proposal to provide insurance for ships passing through the Strait of Hormuz, along with potential countermeasures by Gulf nations against Iran, has boosted market sentiment, with hopes emerging that the conflict could end sooner. Meanwhile, Federal Reserve official Williams stated that cooling inflation could create room for further interest rate cuts in the future. Investors are also focusing on upcoming U.S. economic data, including the ADP private sector employment report at 21:15 Beijing time and the ISM services index at 23:00.