Dollar strengthens against dong

By Minh Hieu   February 6, 2025 | 08:54 pm PT
Dollar strengthens against dong
A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey Nov. 11, 2021. Photo by Reuters
The U.S. dollar gained over the Vietnamese dong Friday morning while staying firm against major peers.

Vietcombank sold the dollar at VND25,510, a 0.24% rise from Thursday. The greenback fell by 0.12% to VND25,680 on the black market.

The State Bank of Vietnam hiked its reference rate by 0.15% to VND24,462.

Globally, the yen climbed to a nine-week high as market players piled on bets for more interest rate hikes in Japan this year, while the U.S. dollar and other major currencies trod water ahead of U.S. monthly payrolls figures due later in the day, Reuters reported.

After a volatile week punctuated by back-and-forth market-moving headlines on U.S. tariff threats, traders settled in for the U.S. jobs data while they kept a wary eye on geopolitics and U.S. President Donald Trump's broad policy moves.

The dollar index, which measures the U.S. currency against the yen, sterling and other major peers, stood flat at 107.71 after soaring as high as 109.88 on the back of U.S. tariff threats earlier this week.

The yen was riding its own wave on expectations of continued rate hikes by the Bank of Japan. Against the yen, the dollar was steady at 151.555. The currency pair broke below 151 for the first time since Dec. 10 in early Asian trade.

The euro was little unchanged at $1.0385, while sterling was flat at $1.2438.

 
 
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