On October 9th, the strong bullish sentiment of global capital towards China's financial assets is supporting the RMB exchange rate to gradually recover lost ground. Analysts pointed out that overseas hedge funds have chosen to buy up the offshore RMB exchange rate around 7.08. In addition, foreign trade enterprises have also increased their foreign exchange settlement efforts in the past two trading days, because they are afraid that the crazy buying of Chinese assets by overseas funds will continue to push up the RMB exchange rate, resulting in further "shrinkage" of their future foreign exchange settlement amount. Economists at CITIC Securities clearly stated that in the short term, the appreciation of the RMB may trigger the release of some foreign exchange settlement needs of enterprises, and it is not ruled out that the further release of foreign exchange settlement needs will cause greater appreciation and volatility of the RMB exchange rate. In the medium and long term, the trend of the RMB "recovering the 7 round number mark" still needs to be further catalyzed. First, it is necessary to observe whether the fiscal policy can be relayed after the monetary policy is implemented, and whether the actual degree of repair of domestic fundamentals can further support the RMB exchange rate. Second, it is necessary to observe the disturbance of the RMB exchange rate caused by external factors such as the Federal Reserve's future monetary policy expectations.