Report published June 8, 2026

FX Daily: Fed pricing and tech sector volatility bolster the US Dollar

ING · June 8, 2026

The US dollar is rallying on the back of aggressive Fed tightening expectations and a broader risk-off move in tech equities. Investors are liquidating positions to prepare for significant upcoming IPO supply.

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Finvaulta summarizes ING's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.The US dollar is supported by hawkish Federal Reserve pricing and a risk-off environment driven by tech stock sell-offs.
2.Investors are reallocating portfolios ahead of a significant $75-85bn SpaceX IPO.
3.The Polish Zloty is considered the most vulnerable currency in the CEE region due to the National Bank of Poland's dovish stance.

USD: Fed pricing and risk-off mood to keep the dollar bid
EUR: ECB to provide some rearguard support for the euro
GBP: BoE will try to avoid tightening
CEE: Zloty seems most exposed amid risk-off mood

Report data

Hawkish Fed pricing and a tech-led sell-off in risk assets should continue to keep the dollar supported

Metric	Estimate	Context
Fed tightening pricing	30 bp	Market expectations for this year

Reports in this series

FX Daily is shown in chronological order through this edition, published on June 8, 2026.

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Authors / Editors

Chris Turner · Global Head of Markets and Regional Head of Research for UK & CEEFrantisek Taborsky · EMEA FX & FI StrategistFrancesco Pesole · FX Strategist