[Ark Invest: Reasons to Continue Seeing Potential Upside for the Dollar] According to a report by Golden Finance on April 20, Ark Invest, led by 'Cathie Wood,' stated that many market participants have embraced the narrative of a weakening dollar. However, we continue to see reasons for potential upside. We believe that capital-friendly tax policies, deregulation, and the enhanced relative returns of U.S. investments could support sustained demand for dollar-denominated assets. If foreign direct investment continues to strengthen and capital flows favor the U.S., the dollar could appreciate even if many investors expect otherwise. In our view, this is yet another example of how consensus thinking may overlook the full implications of an innovation-driven, investment-led cycle.