The United States (US) dollar surged sharply in trading on Friday (November 6, 2026), following an employment report that showed job growth far exceeding market expectations.
The US Dollar Index (DXY) rose 0.63% to 102.12, marking its largest daily gain in seven weeks. Nonfarm Payrolls (NFP) data showed an addition of 165,000 jobs in October—well above the 65,000 forecast—while the figure for September was revised upward to 60,000. The unemployment rate also fell to 4.1%, demonstrating the resilience of the US labor market amid global economic uncertainty.
The robust employment data has fueled expectations that the Federal Reserve still has room to raise interest rates. According to the CME FedWatch Tool, the probability of an interest rate hike of at least 25 basis points in December has climbed back toward 80%, up from a previous low of around 67%. The yield on the 10-year US Treasury note rose to 4.868%, while the 2-year note reached 4.532%. The strengthening dollar pressured major currencies; the EUR/USD fell 0.55% to 1.1157, the GBP/USD weakened 0.62% to 1.3366, and the USD/JPY climbed to 158.20. These movements reflect the growing appeal of dollar-denominated assets as expectations for US interest rates rise.
Meanwhile, the market remains focused on the fallout from a global sell-off in technology stocks, driven by concerns over potential stricter oversight of the artificial intelligence (AI) industry following a Democratic victory in the US midterm elections. New York Federal Reserve President John Williams emphasized that the U.S. economy remains resilient, yet inflation is still too high and must be brought back to the 2% target. This statement has heightened investor focus on the prospect of monetary policy remaining restrictive. Given these conditions, the future trajectory of the dollar is expected to be influenced by inflation data, developments in technology stocks, and the Federal Reserve’s interest rate decision in December.
Source: Newsmaker.id