USD is trading 3.1% up today as the leveraged semiconductor ETF rebounds following last week's sharp AI- and chip-led selloff driven by valuation concerns.
- The move aligns with firmer U.S. equity futures and a tentative stabilization in risk appetite, despite ongoing U.S.–Iran tensions and elevated oil prices.
- Analysts view the bounce as a partial retracement of losses triggered by massive capex plans at major foundries rather than a fresh sector-specific catalyst.