Dollar inches up over dong, stays flat globally

By Dat Nguyen August 12, 2024 | 08:28 pm PT

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters

The U.S. dollar rose against the Vietnamese dong Tuesday morning but was steady against major currencies as investors were watching for signs of rate cuts from the U.S.

Vietcombank sold the greenback at VND25,290, up 0.04% from Monday.

The State Bank of Vietnam kept its reference rate unchanged at VND24,256.

The dollar slipped 0.04% on the black market to VND25,630.

It has gained over the dong by 3.48% since the beginning of the year.

Globally the dollar was in limbo on Tuesday as investors waited to see how U.S. economic data affected the chance of outsized rate cuts, while a rally in Japanese stocks helped staunch the bleeding in yen carry trades, Reuters reported.

The greenback was idling at 147.17 yen, having briefly touched a one-week high of 148.23 overnight before profit-taking emerged.

The euro stood at $1.0931, after creeping higher overnight and nearer to resistance at $1.0944 and $1.0963. The dollar index was flat at 103.08.