The US dollar experienced a decline against the Vietnamese dong on Monday morning, while it simultaneously reached its most robust position in over two weeks against the Japanese yen. The greenback was sold by Vietcombank at a rate of VND26,351, marking a 0.004% dip from the weekend. However, the currency witnessed an increase of 0.18% on the black market, bringing it to VND27,750.
The State Bank of Vietnam responded to these shifts by lowering its reference rate by 0.004% to VND25,097.
Globally, the US dollar climbed to a high that hasn’t been seen in over two weeks against the yen on Monday, as critical worldwide trade negotiations and central bank meetings commenced. The dollar experienced a 0.15% increase against the yen, bringing it to 153.07 and hitting a peak of 153.17, the highest since October 10th. The dollar index, which assesses the greenback against a select group of peers, rose by 0.05% to reach 98.97.
Apart from the yen, the US dollar’s performance against other currencies remained steady. The euro remained at $1.1622 while sterling saw a slight boost of 0.04% to $1.3314. The Australian dollar also gained 0.2% against the greenback, reaching $0.6528.
Mahjabeen Zaman, head of foreign exchange research at ANZ, suggested in a recent podcast that the strength of the dollar would likely continue in the near term. She stated: “Fed cuts are fully priced in for October and December meetings. So if anything, any cautious communication from the Fed would likely be more supportive for the U.S. dollar.”
What was the performance of the US dollar against the Vietnamese dong and Japanese yen recently?
The US dollar declined against the Vietnamese dong, but it reached a more than two-week high against the Japanese yen.
How did other currencies perform against the US dollar?
The euro and sterling remained steady against the US dollar, while the Australian dollar saw a slight increase.
What are the predictions for the near-term performance of the US dollar?
According to Mahjabeen Zaman, head of foreign exchange research at ANZ, the dollar’s robust performance is expected to persist in the near term.
