{
  "id": 18482154,
  "title": "Dollar climbs on safe haven demand as AI rout saps Asian markets",
  "url": "https://urgent.news/2026/11/06/dollar-climbs-on-safe-haven-demand-as-ai-rout-saps-asian-markets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T10:27:46.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/dollar-climbs-safe-haven-demand-ai-rout-saps-asian-markets-6529621"
  },
  "original_language": "en",
  "account": "On Friday, the dollar climbed against other major currencies due to increased demand for safe-haven assets as the sell-off in AI stocks spread worldwide and investors awaited a US payrolls report. Tech-heavy markets in Asia suffered significant losses throughout the day, with European markets following suit. In contrast, the US stock market had its worst decline since April 2025, as investors grew wary that significant Democratic gains in the upcoming midterm elections could intensify scrutiny of the AI industry and curb data center construction.\n\nAnalysts noted that the dollar's strength was driven by investors flocking to US treasuries and short-dated securities, rather than the weakening seen during a tech stocks sell-off in October. Chris Turner, global head of markets at ING, explained that the rotation into cash rather than a move away from the dollar was evident. The safe-haven Japanese yen and Swiss franc also experienced gains on Friday, but as Asian stocks continued to falter, the dollar made gains against most major currencies.\n\nAgainst the dollar, the euro decreased by 0.4% to $1.1171, while the British pound dropped nearly 0.5% to $1.338. The dollar also gained 0.4% against the Japanese yen at 158.2 and 0.2% against the Swiss franc at 0.8179. The overnight safe-haven flight caused the two-year US Treasury yield to drop by around 10 basis points to its lowest level since September 10, while the 10-year yield declined nearly 6 basis points, steepening the yield curve.\n\nEarly European trading on Friday showed a calmer market, with both the 10-year and 2-year yields remaining flat at 4.84% and 4.48%, respectively. The Australian and New Zealand dollars, typically influenced by global growth and equity markets, experienced the most significant declines among developed currency markets. The Australian dollar fell 0.76% to 0.6875, and the New Zealand dollar dropped 0.8% to 0.5546. The next major event on the horizon is the US non-farm payrolls report, which investors will closely monitor to gauge the Federal Reserve's interest rate path.",
  "summary": null,
  "key_points": [
    "Dollar climbs 0.4% against major currencies amid safe-haven demand",
    "AI sell-off saps Asian markets, US stocks hit worst decline since April",
    "Investors flock to US treasuries, short-dated securities for safety"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 7,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "AI Selloff Drives Asian Stock Markets to Fresh Grim Milestones",
        "url": "https://urgent.news/2026/11/06/ai-selloff-drives-asian-stock-markets-to-fresh-grim-milestones",
        "published": "2026-11-06T05:11:11.000Z"
      },
      {
        "outlet": "The National UAE",
        "title": "Iran sends nuclear proposal to US, Asian stock markets plunge and Abu Dhabi-OpenAI deal bears fruit",
        "url": "https://urgent.news/2026/11/06/iran-sends-nuclear-proposal-to-us-asian-stock-markets-plunge-and-abu",
        "published": "2026-11-06T06:29:32.000Z"
      },
      {
        "outlet": "Daily Times",
        "title": "Asian stock markets tumble as artificial intelligence sector faces severe global selloff",
        "url": "https://urgent.news/2026/11/06/asian-stock-markets-tumble-as-artificial-intelligence-sector-faces",
        "published": "2026-11-06T06:44:59.000Z"
      },
      {
        "outlet": "RTE News",
        "title": "Asian stocks tumble after AI rout rocks US markets",
        "url": "https://urgent.news/2026/11/06/asian-stocks-tumble-after-ai-rout-rocks-us-markets",
        "published": "2026-11-06T07:08:51.000Z"
      },
      {
        "outlet": "Financial Times",
        "title": "Asian markets battered after Wall Street AI rout",
        "url": "https://urgent.news/2026/11/06/asian-markets-battered-after-wall-street-ai-rout",
        "published": "2026-11-06T07:39:22.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Tech stock rout, driven by US AI fears, continues in Asian trading",
        "url": "https://urgent.news/2026/11/06/tech-stock-rout-driven-by-us-ai-fears-continues-in-asian-trading",
        "published": "2026-11-06T08:41:05.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}