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Dollar holds, yen gains as equity rout saps risk appetite ahead of payrolls
SHANGHAI/SINGAPORE: The dollar held steady against major currencies on Friday, after a sharp selloff in US equities drove investors toward haven assets such as the yen and pushed Treasury yields lower ahead of a closely watched government payrolls report. The trigger for the retreat from risk was a Democratic sweep in Congress that hammered US stocks on Thursday, with the Nasdaq recording its deepest one-day drop since “Liberation Day” in April 2025. Fears of tighter scrutiny of the artificial intelligence industry, particularly around data centre construction, has roiled global markets this...
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