Dollar dips from record-high against dong

Vietcombank sold the greenback at VND26,307, down 0.01% from Tuesday's record VND26,310. The currency rose 0.19% to VND26,470 on the black market.

The U.S. currency has gained 2.9% on the dong since the start of the year.

The State Bank of Vietnam reduced its reference rate by 0.01% to VND25,055.

Globally, the dollar struggled to regain lost ground on Wednesday as investors who have been starved of good news latched onto optimism over a fragile truce between Israel and Iran as a reason to take on more risk, Reuters reported.

Investors heavily sold the dollar in the wake of the news, after pouring into the safe-haven currency during the 12 days of war between Israel and Iran that also saw the U.S. attack Iran's uranium-enrichment facilities.

Currency moves were more subdued in early Asia trade on Wednesday though the euro remained perched near its highest since October 2021 at $1.1621, having hit that milestone in the previous session.

Sterling eased 0.02% to $1.3615 but was similarly not far from Tuesday's peak of $1.3648, which marked its strongest level since January 2022.

The risk-sensitive Australian dollar, which rallied sharply in the previous session, last traded 0.02% higher at $0.6492.

The Swiss franc, which scaled a 10-1/2-year high on Tuesday, steadied at 0.8049 per dollar. Against a basket of currencies, the dollar eased slightly to 97.91.