1056 GMT - The risk of continued volatility in equities driven by growing doubts over AI valuations could weigh further on the dollar's performance, MUFG Bank analysts say in a note. "The U.S. is at the heart of the AI phenomenon, and the strength of the economy is highly dependent on it." That leaves the dollar vulnerable to a turn in AI momentum, they say. A negative aspect for the U.S. economy from AI also comes from the surging trade deficit, they say. The U.S. deficit with South Korea, Taiwan and Mexico is widening as the U.S. imports the products needed for AI. The DXY dollar index falls 0.4% to 101.664.
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