Dollar climbs on safe haven demand as AI rout saps Asian markets
Zawya · Alun John ·
Dollar firm on safe-haven demand after global equity selloff
The dollar gained against other major currencies on Friday, drawing support from safe-haven demand as the selloff in AI stocks spread worldwide and the markets awaited a US payrolls report.
Asia's tech-heavy markets fell heavily on Friday, and selling broadened in Europe.
The previous day, US stocks declined by the most since April 2025 as investors anticipated that huge Democrat gains in the US midterm elections this week would increase scrutiny of the AI industry and limit data centre construction.