币界网报道：UBS analysts forecast significant dollar depreciation by 2025 due to potential Federal Reserve policy shifts, predicting a 10-15% decline against major currencies. The bank cites possible Fed rate cuts and reduced foreign demand for US assets as key drivers, noting the dollar index could fall below 90 from current 104 levels. This outlook contrasts with consensus views, as UBS strategists argue markets underestimate structural vulnerabilities in the US currency. The report highlights risks including America's twin deficits and potential reserve currency diversification by central banks, particularly if geopolitical tensions persist. Historically overvalued dollar positions may unwind sharply if these factors converge, creating volatility in currency markets.