Scotiabank: Overpriced Tech Stocks Boost US Dollar for Fifth Straight Day
The US Dollar strengthened for five consecutive sessions as worries over inflated technology stock valuations weighed on equities and investors turned defensive amid persistent uncertainty about Federal Reserve policy.
Market Movement and Yen Strength
The Yen advanced, supported by its traditional role as a safe-haven asset and by recent comments from Japan's finance minister addressing market stability concerns.
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Author’s Summary
The US Dollar gained for five days as investors turned cautious over tech valuations, while safe-haven demand lifted the Yen and VT Markets warned of CFD trading risks.