The U.S. dollar remains under pressure despite strong nonfarm payroll data, a paradox that has sparked market reflection. According to Golden Ten, although the U.S. labor market has demonstrated resilience, suggesting the Federal Reserve may maintain its current policy stance, the dollar has still failed to strengthen. Corpay strategist Carl Shamotas points out that this reflects deeply entrenched bearish sentiment on the dollar, with robust U.S. fundamentals struggling to reverse investors' pessimistic expectations. From a historical perspective, the current decline in the dollar remains within a moderate range, but if this deeply rooted short-selling atmosphere persists, there is room for further downside. A shift in market sentiment may become the key variable.