US Dollar Rises on Safe Haven Demand

The US dollar strengthened against major currencies on Friday as a global selloff in artificial intelligence stocks drove investors toward safe havens. Lower Treasury yields and upcoming payroll data limited further gains.

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FILE PHOTO: Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/Illustration/File Photo

The United States dollar held firm during Friday morning trading, drawing safe-haven demand after an artificial intelligence stock selloff swept across Asia.