The US Dollar (USD) trades sharply higher against its major currency peers as global sector rotation due to intensified sell-off in stocks related to Artificial Intelligence (AI) infrastructure has increased demand for safe-haven assets.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second consecutive day and reaching its monthly low of 101.20 during Asian hours on Thursday.
Dow Jones futures advance 0.4% to trade around 52,100 during the European hours on Wednesday. Meanwhile, S&P 500 futures gain 0.15% to trade around 7,610 and Nasdaq 100 futures rise 0.14% to trade around 28,340.