Dollar may extend rally after strong run as Fed hike bets build
ING sees the dollar rising further if US producer prices come in firm. Fed and ECB rate expectations and euro-zone political risks are in focus.
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what happened
According to Market Talk, citing ING strategist Chris Turner, the dollar's rally could continue if the US producer price index, due at 1330 GMT, comes in strong. He sees the DXY index climbing toward resistance at 104.600, a move that would be consistent with the euro falling to $1.0880. The DXY was near 103.174 after touching a 19-month high of 103.242.
Markets are also pricing a Fed hike in December: according to LSEG, 90% for 25 basis points and 10% for 50. Gilt and Bund yields are rising too, while Commerzbank flags risks of wider French bond spreads.
why it matters
For markets, the key point is the expectation of tighter monetary policy: strong inflation data and hawkish Fed rhetoric support the dollar and weigh on developed-market currencies and bonds. Traders following the euro and yen should also watch euro-zone political risks, including France's budget problems.
market impact
Dollar and bonds: Fed hike expectations support USD and pressure the euro
- US dollar (DXY) pressure up — expectations of tighter Fed policy and strong inflation data
- EUR/USD pressure down — a stronger dollar and political risks in the euro area
tags
instruments
on polymarket
sources
- Dollar Could Take Another Leg Higher After Strong Rally — Market Talk, 13 November 2026 at 09:01 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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