Analysts at UBS, including Epek Ozkardeskaya, have warned that the market's expectations for rate cuts by the Federal Reserve in September and beyond are excessively high. This could potentially open up a short-term rebound opportunity for the US dollar. She emphasized that while the Dollar Index has already reached its lowest level in nearly seven months, its downward trend is likely to be limited. Furthermore, she noted that the upside potential for the euro against the US dollar and the British pound against the US dollar may be relatively limited, suggesting that market optimism about these currencies might not last.