On Friday morning, the U.S. dollar saw a slight increase against the Vietnamese dong and key currencies.
At Vietcombank, the U.S. dollar was sold for VND26,160, marking an increase of 0.04% compared to Thursday’s rate. On the unofficial market, the dollar dropped by 0.13%, trading at VND26,475.
The State Bank of Vietnam increased its reference rate by 0.1%, setting it at VND24,951.
Worldwide, the dollar was set to close higher against most major currencies by Friday. This shift occurred due to optimism surrounding potential advancements in upcoming U.S.-China negotiations following a new U.S.-UK trade agreement. Additionally, expectations of an immediate interest-rate cut from the Federal Reserve diminished when they signaled their lack of urgency regarding monetary policy changes. Consequently, focus has now turned towards the U.S.-China discussions taking place over the weekend.
Reuters
reported.
The U.S. dollar index, gauging the currency relative to six significant counterparts, rose slightly by 0.1% to hit a one-month high of 100.77.
The yen edged higher to trade at 145.77 against the dollar, though this followed a 1.5% decline on Thursday when it reached a one-month low of 146.175. Meanwhile, the euro dipped to a one-month low of $1.12105, and sterling fell to a three-week low of $1.32205.
“The purchase of USD could indicate increased confidence that these tariff agreements can be reached,” noted Steve Englander, Global Head of G10 Currency Research at Standard Chartered, in a client memo.
“The possibility of a trade truce between Trump and China might be contributing to the hope that the worldwide upheaval caused by trade conflicts could turn out less damaging than what financial markets anticipate,” he stated.
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