An analyst at Royal Bank of Canada stated that the US dollar may continue to be under pressure in the short term due to growing concerns about the slowdown in the US economy. It is expected that US economic data will remain weak, leading to a fading of the exceptionalism narrative about the US. However, Trump's tariff policy may strengthen the US dollar in the second quarter. The forecast is for the euro to rise to 1.11 in the first quarter and fall to 1.05 in the second quarter.