Dollar climbs against dong

By Ngan Anh October 9, 2023 | 08:06 pm PT

An employee of the Korea Exchange Bank counts one hundred dollar notes at the bank's headquarters in Seoul February 24, 2009. Photo by Reuters

The U.S. dollar increased against the Vietnamese dong Tuesday morning.

Vietcombank sold the dollar at VND24,570 Tuesday, up 0.08% from Monday.

The greenback was sold at VND24,550 on the black market, down 0.45%.

The State Bank of Vietnam downed its reference rate by 0.02% to VND24,063.

It has increased over the dong by 3.54% since the beginning of the year.

Globally, the dollar softened on Tuesday along with U.S. interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials' tone, according to Reuters.

The yen held small gains as violence in the Middle East supported buying of safe-haven assets, and last traded firmly at 148.34 per dollar. The Swiss franc has also gained and was edging higher at 0.9045 to the dollar.
The euro was up 0.1% in early Asia trade to $1.0580.

The Israeli shekel steadied at 3.95 to the dollar, just off an almost eight-year low, after the central bank promised $30 billion in foreign exchange selling.

Investors are bracing for a drawn-out conflict after a weekend attack from Palestinian militants - and Israel's retaliation - has claimed more than 1,500 lives.

However comments from two Fed officials turned around the mood and U.S. rate forecasts overnight after noting the recent selloff in bonds might negate the need for further hikes.