Artificial intelligence boosts US dollar
Equity futures are kicking upward and the dollar is rising in the run-up to the North American open after Nvidia reported stronger-than-expected second quarter earnings and issued a remarkably-positive sales forecast. With the tech-heavy Nasdaq and the S&P 500 widening the US performance differential relative to global markets, investor demand for the greenback is intensifying – but we note that this could prove dangerous in the months ahead if the sector fails to deliver on its promise. As the corporate raider Carl Icahn once put it, “Some people get rich studying artificial intelligence. Me, I make money studying natural stupidity”....