Dollar inches up against dong

Vietcombank sold the greenback 0.11% higher at VND26,230. The bank’s rate has risen 0.54% in over a week.

The State Bank of Vietnam hiked its reference rate 0.05% higher at VND24,982.

On the black market the dollar dropped 0.11% to VND26,330.

The greenback has risen 2.66% since the beginning of the year.

Globally the dollar fell to a six-week low on Tuesday on signs of fragility in the U.S. economy because of damage from the trade war President Donald Trump's administration is waging, Reuters reported.

U.S. duties on imported steel and aluminum are set to double to 50% starting on Wednesday, the same day the Trump administration expects countries to submit their best offers in trade negotiations.

"What this whole dynamic is basically saying is trade tensions are not really improving in that regard, and we've seen the dollar getting hammered widely," said Rodrigo Catril, senior FX strategist at National Australia Bank. "Interestingly, the Aussie and the kiwi have been the good performers this time around."

The dollar index, which measures the U.S. currency against six major peers, was little changed after touching 98.58, the lowest since late April, when it fell to a three-year trough. The greenback was at 142.71 yen, near a one-week low.