Investing.com -- The Swiss franc and Japanese yen experienced a surge as investors turned to these currencies as safe havens. This shift in investor behavior came in response to doubts cast over America's dominance in the artificial intelligence (AI) industry by Chinese startup DeepSeek's new AI model.

The news has had a significant impact on U.S. tech stocks with Nasdaq futures down by about 4%.

The USD/JPY fell 1.1% to 154.009 after hitting a near six-week low of 153.723.

The EUR/CHF also saw a decrease, falling 0.5% to 0.9450.

Deutsche Bank (ETR: DBKGn ) forex analyst George Saravelos suggested that if DeepSeek's new AI model turns out to be a major and disruptive technological breakthrough, the dollar could weaken.

He noted that while the dollar initially rallied due to safe-haven demand, the AI news could ultimately prove negative for the currency.

Saravelos explained, "If technology dissemination is more global and reduces a U.S.-specific technological advantage, the impact should be considered to be a marginal dollar negative."

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