美元跌幅超过一个月来最大，此前因通胀数据高于预期而推动的涨幅被抹去。
The dollar fell the most in more than a month, erasing gains fueled by hotter-than-expected inflation data.
彭博美元现货指数周四下跌0.3%，为自9月3日以来的最大跌幅，因为人工智能相关担忧推动债券上涨，导致收益率下降，从而对美元构成压力。美元对几乎所有主要货币均下跌，对瑞士法郎下跌约1%。
The Bloomberg Dollar Spot Index declined 0.3% Thursday, its biggest drop since Sept. 3, as artificial intelligence-related concerns fueled a bond rally that pushed yields lower and weighed on the currency. The greenback fell against nearly all of its major peers, falling about 1% against the Swiss franc.
“随着人工智能债券抛售，资金流向更安全的资产，如美国国债，这推动了收益率下降，从而对美元造成压力，”Monex公司外汇交易员Andrew Hazlett表示。
“As AI debt has sold off, there has been a flight to safer assets like Treasuries, which is pushing down yields, which is pressuring the dollar,” said Andrew Hazlett, a foreign-exchange trader at Monex Inc.
尽管新出现的经济数据显示通胀压力持续，美元仍出现下跌。劳工统计局周四公布的数据显示，美国9月生产者价格指数上涨1.3%，为四年多来最大涨幅。与此同时，零售销售也超出预期，受汽油消费推动。
The slide came despite new economic data pointing to ongoing inflation pressures. US producer prices advanced 1.3% in September, the most in more than four years, according to the Bureau of Labor Statistics data released Thursday. Meanwhile, retail sales also beat forecasts, boosted by gasoline spending.
此前一天，消费者通胀报告好于预期，重新点燃了对美联储加息的预期，短暂推动美元升至2025年5月以来的最高水平。
That followed a better than expected consumer inflation report which revived expectations for Federal Reserve interest-rate hikes just a day earlier, briefly boosting the dollar to its highest level since May 2025.
交易员将把注意力转向周四纽约时间晚些时候，泰国曼谷国际货币基金组织-世界银行集团年会上美联储主席凯文·沃什的讲话，以获取更多关于央行政策路径的线索。由于美联储将在周六进入所谓的“禁言期”，直至其10月政策会议之前，这将是沃什最后一次就利率发出信号的机会。
Traders will turn their attention to Fed Chairman Kevin Warsh’s remarks at the International Monetary Fund-World Bank Group annual meetings in Bangkok, Thailand, late Thursday New York time for more clues on the central bank’s policy path. It will be his last chance to send any signal on rates since the Fed enters a so-called blackout period on Saturday before its October policy meeting.
在9月加息之前，沃什曾向市场发出鹰派信号，促使交易员调整对加息的预期。尽管沃什曾承诺不会凭借自己对货币政策的短期展望来左右市场，但通胀数据的意外上涨可能会加强对其言论的审查。
Ahead of raising rates in September, Warsh had sent a hawkish message to markets, prompting traders to adjust their rate-hike predictions. While Warsh has vowed not to steer markets with his own near-term outlook for monetary policy, the inflation surprise will likely heighten scrutiny of his remarks.
“目前市场处于有点奇怪的状态，”美国银行策略师亚历克斯·科恩表示，他指出，虽然人工智能问题让投资者涌向避险资产，但美元与人工智能支出紧密挂钩，意味着该行业出现任何问题最终都可能对货币造成压力。
“Markets are in a bit of a weird place right now,” said Alex Cohen, a strategist at Bank of America, noting that while AI concerns have investors flocking to safe havens, the dollar’s close tie to AI spending means any trouble in the sector could ultimately weigh on the currency.
“如果市场正在将人工智能资本支出达到峰值的概率上升计入价格，那么美元就是卖出的对象，”Spectra Markets总裁布伦特·唐纳利在一份备忘录中表示。“整个美国经济就像一只靠人工智能交易保持平衡的独腿凳。”
“If the market is pricing rising odds of peak AI capex, the USD is a sell,” Brent Donnelly, president of Spectra Markets, said in a note. “The entire US economy is a one-legged stool balanced on the AI trade.”