The US dollar may weaken if China retaliates against US sanctions.

Mechanism A shift in trade dynamics due to Chinese retaliation could lead to a weaker USD as trade imbalances adjust.

The euro might weaken if Europe imports more food, worsening the trade balance.

Mechanism Increased food imports could lead to a larger trade deficit, exerting downward pressure on the euro.

The USD is likely to strengthen against the CNY as China's dollar demand persists.

Mechanism Increased demand for dollars to settle trade will likely cause the USD/CNY exchange rate to rise.

The dollar is likely to remain stable despite yield changes.

Mechanism The dollar's stability reflects balanced expectations of US economic performance and rate policy.