Dollar rises marginally against dong

By Dat Nguyen   August 7, 2024 | 08:47 pm PT
Dollar rises marginally against dong
U.S. dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar rose slightly against Vietnamese dong Thursday morning.

Vietcombank sold the greenback 0.02% higher at VND25,340.

The State Bank of Vietnam raised its reference rate by 0.049% to VND24,262.

Unofficial exchange points sold the dollar at VND25,770, up 0.078%.

Globally the sharp moves in the yen has pushed the dollar index, which measures the U.S. currency against six rivals including the yen, to 103.08, near the seven-month low of 102.15 it touched on Monday, Reuters reported.

The euro was steady at $1.09285, while sterling last fetched $1.26865, hovering close to the one-month low it touched on Tuesday.

Traders expect the Fed to cut rates by 50 basis points at its next meeting in September as the economy slows, but they are also pricing in a 26.5% chance of a smaller 25 bps reduction, according to the CME Group's FedWatch Tool.

 
 
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