🔴 The dollar rises as safe-h haven demand grows amid market turmoil
♦️ The U.S. dollar held firm against major currencies in Friday’s trading, supported by growing demand for it as a safe haven following a broad sell-off in global artificial intelligence stocks, while falling Treasury yields limited its gains.
♦️ The moves came amid a sharp decline in Asian and U.S. stocks, as concerns grew over tighter oversight of the artificial intelligence sector, particularly regarding data center construction. Investors were also assessing the implications of the U.S. midterm election results for economic and trade policies.
♦️ In bond markets, two-year U.S. Treasury yields fell about 10 basis points to their lowest levels since September 10, while 10-year yields dropped about 6 basis points, as investors awaited the U.S. jobs report for clues about the markets’ direction.
♦️ The U.S. dollar held firm against major currencies in Friday’s trading, supported by growing demand for it as a safe haven following a broad sell-off in global artificial intelligence stocks, while falling Treasury yields limited its gains.
♦️ The moves came amid a sharp decline in Asian and U.S. stocks, as concerns grew over tighter oversight of the artificial intelligence sector, particularly regarding data center construction. Investors were also assessing the implications of the U.S. midterm election results for economic and trade policies.
♦️ In bond markets, two-year U.S. Treasury yields fell about 10 basis points to their lowest levels since September 10, while 10-year yields dropped about 6 basis points, as investors awaited the U.S. jobs report for clues about the markets’ direction.