Dollar drops against dong

Vietcombank sold the greenback 0.004% lower at VND26,411.

On the black market the dollar gained 0.11% to VND27,180.

Globally the dollar fell out of favor on Thursday after the Federal Reserve delivered a less hawkish outlook than some had anticipated, giving investors confidence to short the currency as they bet on two more rate cuts next year, Reuters reported.

Investors sold the dollar, which in turn pushed the euro above the key $1.17 level and close to a two-month high of $1.1707 in Asia trade on Thursday.

Against a basket of currencies, the dollar fell to its lowest since October 21 at 98.537.

Sterling touched a 1-1/2-month peak of $1.3391, while the yen, which has recently come under pressure from still-wide interest rate differentials between Japan and the rest of the world, rose 0.25% to 155.64 per dollar.