# ING's dollar forecast: interest rates decisive for further declines

> ING strategist Francesco Pesole said the Democratic win in the US midterm elections is weighing on the dollar, but that rate expectations limit a sharper decline. The dollar/lira rose to a record 50.06, while the DXY index fell to about 101.2.

- Date: 2026-11-05 · published 2026-11-05T15:11:04.759Z
- Category: macro · region Turkey · magnitude low
- Page: https://feedsoft.ai/events/81972-ing-s-dollar-forecast-interest-rates-decisive-for-further-declines
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Turkish Lira (TRY per USD)](https://feedsoft.ai/c/USDTRY.md)

## Why it matters

A weaker dollar typically supports dollar-priced commodities such as grains and oilseeds, but the move is modest and rate expectations are the main driver. Lira-based feed costs for Turkish buyers continue to rise.

## Read by commodity

- DXY: bearish ▼
- USDTRY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-06-14 | [Dollar falls after Fed interest rate decision](https://feedsoft.ai/events/10197-dollar-falls-after-fed-interest-rate-decision.md) | +0.6% | -0.9% |
| DXY | 2020-09-16 | [Fed decision September 2020: Interest rates unchanged](https://feedsoft.ai/events/51032-fed-decision-september-2020-interest-rates-unchanged.md) | +0.8% | +0.1% |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |
| DXY | 2019-01-01 | [Fed decision: Central bank lifts interest rates, lowers forecasts to two hikes in 2019](https://feedsoft.ai/events/61751-fed-decision-central-bank-lifts-interest-rates-lowers-forecasts-to-two-hikes-in.md) | -0.7% | -1.7% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |

## Sources

- paratic.com: https://paratic.com/ingden-dolar-tahmini-daha-fazla-dusus-icin-faizler-belirleyici/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.