Dollar slides against dong

Vietcombank sold the greenback at VND26,345, down 0.02% from Tuesday. The currency inched down 0.007% to VND27,661 on the black market.

The State Bank of Vietnam reduced its reference rate by 0.02% to VND25,091.

Globally, the U.S. dollar drifted up from a one-week low versus major peers on Wednesday ahead of a widely expected interest rate cut by the Federal Reserve later in the day, although easing U.S.-China trade tensions kept bullion strength in check, Reuters reported.

The U.S. dollar index, which measures the currency against six rivals, rose 0.2% to 98.82 after two straight days of declines that took it to the lowest since Oct. 21 at 98.562 on Tuesday.

The dollar edged down slightly to 152.05 yen after Bessent posted on X that the Japanese government's "willingness to allow the Bank of Japan policy space will be key to anchoring inflation expectations and avoiding excess exchange rate volatility."

The euro eased 0.1% to $1.1637. Sterling declined 0.1% to $1.3253. The Aussie dollar reversed an earlier small decline to rise 0.2% to $0.6599.

The Fed, meanwhile, is widely expected to cut rates by a quarter point later on Wednesday, and traders will be looking for signs that the market's expectations for a December reduction and several more next year are warranted.