Yen Surges as Wall Street Rallies on AI Optimism

Wall Street rallied strongly on Thursday, driven by renewed optimism around AI. Microsoft shares surged, leading to a rally in the tech sector.

The yen notched one of its best days in years, with some analysts suspecting official Japanese intervention.

Fed Chairman Kevin Warsh's comments on inflation sparked a spike in bond yields, but were met with skepticism by the market. His commitment to bringing down inflation and meeting the Fed's 2% target was questioned.