According to Jin10, ING analyst Francesco Pesole said in a report that the dollar may struggle to sustain its recent strong rally unless Friday's U.S. nonfarm payrolls report comes in far above expectations. He said news that the United States and Iran have reached an agreement on the Strait of Hormuz issue could prevent further dollar gains, help stabilize government bond markets and risk sentiment, and that ING's short-term valuation model shows the dollar currently looks overvalued. Pesole said the dollar index rose 0.1% to 101.101, but a pullback toward 100.50 would be more consistent with fundamentals, and ING expects this week's jobs data to keep markets guessing whether the Federal Reserve will raise rates again in October.