Dollar tiptoes down against dong

Vietcombank sold the dollar at VND25,479, down 0.02% from the weekend.

The dollar fell 0.19% to VND25,750 at unofficial exchange points.

The State Bank of Vietnam’s reference rate was unchanged at VND24,245.

The greenback has strengthened against the dong by 4.34% in the year to date.

Globally, major currencies were steady on Monday with the dollar consolidating against peers, as market participants awaited U.S. inflation data to assess the prospects of interest rate cuts this year, Reuters reported.

The dollar index, which measures the greenback against a basket of currencies, was mostly flat at 105.34, following its first weekly gain last week after two successive weeks of decline.

The euro was unchanged at $1.0769 as the euro zone prepares for an inflation reading of its own on Friday.

The yen weakened 0.11% to 155.91.

After a softer-than-expected U.S. payrolls report for April and a Federal Reserve policy announcement, expectations have increased for rate reductions this year.

With recent data indicating the economy is slowing, investors are looking to confirm how sticky inflation is.

The market will have a chance this week, with inflation readings in the form of the producer price index (PPI) on Tuesday followed by the consumer price index (CPI) on Wednesday.