Dollar slips against dong

Vietcombank sold the dollar at VND25,554, down 0.04% from Tuesday. The greenback also slid 0.04% to VND25,740 on the black market.

The State Bank of Vietnam lowered its reference rate by 0.03% to VND24,338. The dollar has risen against the dong by 0.01% since the start of the year.

Globally, the dollar's towering rally hit a speed bump on Wednesday as traders turned cautious ahead of a closely watched U.S. consumer inflation report due later in the day, making them hesitant to take on new positions, Reuters reported.

Against a basket of currencies, the dollar was last a touch higher at 109.23, but was some distance away from Monday's peak of 110.17, its strongest level since November 2022.

The yen was little changed at 157.98 per dollar, having drawn some support from the prospect of a rate hike from the Bank of Japan next week.

The greenback was stabilizing in the early Asian session after falling overnight and edging away from a more than two-year peak hit against a basket of currencies at the start of the week.

Against the dollar, the euro was some distance from a more than two-year trough and last bought $1.0301.

Sterling fell 0.09% to $1.2205, as it continues to come under pressure from rising borrowing costs at home and worries about Britain's fiscal health.