Dollar Pulls Back From 18-Month High as AI Debt Concerns Mount

The dollar fell 0.4% to 102.108 after hitting an 18-month high Wednesday, as growing concerns about AI-sector debt loads triggered a risk-off move. MUFG says the fundamental backdrop remains supportive, with hotter-than-expected September CPI keeping the Fed on track to raise rates on Oct. 28. But ING notes the market is trimming rate-rise expectations as AI credit risks rise, with CoreWeave bond yields surging. The Swiss franc gained as rate differentials narrowed.