US Dollar: Payrolls support keeps range intact – ING

FXStreet · FXStreet Insights Team · 2026-11-06 12:57 UTC

ING’s Chris Turner notes that the US Dollar (USD) has reacted only modestly to the sharp sell-off in US tech stocks, with FX markets treating it as a sector-specific story.

ING’s Chris Turner notes that the US Dollar (USD) has reacted only modestly to the sharp sell-off in US tech stocks, with FX markets treating it as a sector-specific story. Turner expects the October US jobs report to confirm a solid labour market and sees US Dollar Index (DXY) holding within a 101.50-102.50 range.

Dollar holds firm as tech slides

"The big question for the dollar is whether this tech sell-off leads to a broader re-assessment of the US growth and inflation trajectory. US short-dated rates have fallen close to 50bp since late September and the dollar's yield advantage over other major pairs has softened a little. Feeding into that story today will be the October US jobs report."

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