The US dollar weakens, DXY falls 0.12% to 101.684, dragged down by AI concerns and election uncertainty.

Due to concerns over artificial intelligence investment prospects and investor unease regarding Tuesday's U.S. midterm elections, the U.S. dollar declined. Apple (AAPL.US) warned on Monday that the cost of operating AI tools would squeeze profit margins, intensifying market worries about the sustainability of AI investments. AI model developer Anthropic reported an operating loss in the third quarter due to an expensive data center agreement; meanwhile, OpenAI, a competitor, raised less than half of its initial $30 billion target in its latest funding round. On the positive side for the dollar, rising oil prices provide support. International oil prices surged after the U.S. struck Iran’s Qeshm Island on Monday. However, uncertainty over the outcome of the U.S. midterm elections continues to keep investors cautious. The U.S. Dollar Index (DXY) fell 0.12% intraday to 101.684; on Monday, the index hit 101.426, its lowest level in a month.