Dollar rises against dong

By Minh Hieu June 1, 2025 | 10:11 pm PT

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters

The U.S. dollar edged up against the Vietnamese dong while inching down against major currencies Monday morning.

Vietcombank sold the currency at VND26,210, a 0.04% increase from the weekend. The greenback gained 0.04% to around VND26,380 on the black market.

The State Bank of Vietnam reduced its reference rate by 0.03% to VND24,970.

Globally, the dollar made a soft start on Monday as U.S.-China trade tensions continued to simmer, while investors turned defensive ahead of key U.S. jobs data and a widely expected cut in European interest rates, Reuters reported.

The U.S. dollar index, which measures the currency against six major peers, eased 0.2% to 99.214.

The dollar slipped 0.3% on the yen to 143.55, while the euro edged up 0.2% to $1.1370.

The greenback even fell 0.2% on the Canadian dollar to 1.3727, getting no tailwind from Trump's threat of 50% tariffs on Canadian steel exports.

"The greenback remains near the lower end of its post-2022 range and considerably weaker than interest rate differentials would imply," noted Jonas Goltermann, deputy chief markets economist at Capital Economics.

"Sentiment around the greenback remains negative and it continues to look vulnerable to further bad news on the fiscal and trade policy fronts."