NASDAQ 100 hits record high as tech sector drives Q2 recovery

The NASDAQ 100 index achieved new all-time highs, powered by robust technology sector performance throughout the second quarter. The tech-heavy index gained over 15% in Q2, significantly outperforming other major indices as investors piled into growth stocks. This equity market strength has implications for forex markets, particularly supporting risk-sensitive currencies like the Australian and New Zealand dollars while pressuring safe-haven currencies including the Japanese yen and Swiss franc. The S&P 500 also posted solid gains, reinforcing the risk-on sentiment across global markets. Gold prices have shown mixed reactions, caught between dollar weakness (supportive) and improved risk appetite (negative). The sustained equity rally suggests continued appetite for risk assets, which could maintain pressure on traditional safe-haven currencies while supporting commodity-linked and emerging market currencies in the near term.