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Apple rallied 2% to $293.32, just $1.44 from its all-time high. The 2026 chip war narrative — with Apple dominating custom silicon — fueled the bid.

Apple's vertical integration moat is finally being priced as an AI advantage. On-device AI processing via Apple Silicon gives it a unique privacy-first positioning.

ATH at $294.76 is one strong session away. WWDC in June with new AI features is the next major catalyst. Break above $295 targets $300.

EUR edged to 1.1769 as the dollar softened on risk-on flows into Asian equities and tech. DXY held below 98.10 for a third straight session.

Weak dollar momentum is structural — markets are pricing two Fed cuts by September while ECB stays hawkish on sticky services inflation.

US CPI Tuesday 15:30 TRT is the week's pivot. Core above 0.3% MoM would reprice Fed path and reverse dollar weakness sharply.