Dollar moves up against dong

By Dat Nguyen   May 7, 2023 | 08:11 pm PT
Dollar moves up against dong
A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. Photo by Reuters/Yuriko Nakao
The U.S. dollar rose against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND23,630, up 0.04% from Sunday.

Eximbank kept the greenback stable at VND23,600.

Techcombank also fixed the rate unchanged at VND23,625.

The State Bank of Vietnam lowered its reference by 0.02% to VND23,618.

Unofficial exchange points sold the dollar 0.06% higher at VND23,465.

The dollar has depreciated against the dong by 0.42% since the beginning of the year.

Globally the dollar was catching its breath on Monday after dropping last week when the Federal Reserve hinted at an end to the U.S. rate increase cycle, with traders turning their focus to U.S. inflation and bank lending data for the week ahead, Reuters reported.

Sterling, which hovered at $1.2633, just below an 11-month high hit on Friday, was also in traders’ minds ahead of an expected Bank of England rate increase on Thursday.

The euro, which has rallied nearly 16% from September lows, was losing a little bit of momentum at $1.1021 and has struggled to break resistance at $1.11.

The yen slipped slightly, reflecting Friday’s move higher in U.S. bond yields that followed strong jobs data.

The dollar/yen was last 0.2% higher at 135.05.

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