US Dollar Holds Steady as Wall Street Dips on AI Profitability Concerns

The US Dollar (USD) demonstrated resilience, maintaining its position around the 97 level in the American session. This stability comes as Wall Street experienced a sharp decline, primarily driven by renewed fears surrounding the profitability of the Artificial Intelligence (AI) tech sector. Analysts noted concerns that the technology sector, despite its growth, is struggling to generate decent profits. The downturn in equities reflects a bearish sentiment, particularly for AI-related companies. The dollar's steady performance could be attributed to safe-haven demand or anticipation ahead of the upcoming US CPI report. This divergence highlights a mixed market sentiment, with currency markets showing resilience against equity market weakness.