Dollar gains over dong

Vietcombank sold the greenback at VND25,760, up 0.04% from Thursday. The currency increased by 0.1% to VND25,960 on the black market.

The State Bank of Vietnam reduced its reference rate by 0.01% to VND24,843.

Globally, the dollar was headed for a steady week on Friday and a quarterly loss next week as concern about tariffs slowing U.S. growth has pushed down U.S. yields, stocks and the currency, Reuters reported.

The euro, at just below $1.08, was headed for its largest quarterly rise in more than a year, gaining more than 4% since the start of 2025 on a combination of peace prospects in Ukraine, dollar weakness, and a leap in benchmark German yields.

The yen was marginally firmer and set for a quarterly gain just under 4%, at 151.19 per dollar - mostly unruffled by a sticky Tokyo CPI reading.

Sterling, at $1.2943, was steady in the Asia session for a gain around 3.5% for the year so far.

The dollar's decline over the past few months has confounded market expectations for a higher U.S. currency under Trump's tariffs, wiping out long dollar positions and leaving traders unsure how to position or react as he upends trade relations.

So far this year the Canadian dollar is actually up around 0.5% to C$1.4306 per dollar, despite Canada bearing the brunt of several rounds of heavy U.S. tariffs. The euro may be in the frame if Europe is the focus of Trump next week.