Dollar Likely to Remain Resilient After AI-Driven Tech Selloff -- Market Talk

1028 GMT - The selloff in tech stocks could lead to a broader reassessment of U.S. growth and inflation but it is too soon to call a broad-based dollar decline, ING's Chris Turner says in a note. Foreign exchange participants seem to consider the tech selloff as an "idiosyncratic story" led by concerns that the Democratic sweep in the U.S. midterm elections could slow AI investment, rather than major macroeconomic setback, he says. The DXY dollar index is remarkably resilient and should continue to trade towards the middle of a 101.500-102.500 range, he says. "Clearly the dollar's liquidity advantages and near 4% one-week deposit rates are helping here." The DXY dollar index rises 0.5% to a one-week high of 102.046. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

November 06, 2026 05:28 ET (10:28 GMT)