Dollar rises against dong

By Dat Nguyen   November 22, 2023 | 08:48 pm PT
Dollar rises against dong
A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina Aug. 28, 2018. Picture taken August 28, 2018. Photo by Reuters/Marcos Brindicci
The U.S. dollar gained against the Vietnamese dong Thursday morning.

Vietcombank sold the dollar at VND24,390, up 0.14% from Wednesday.

The State Bank of Vietnam raised its reference rate by 0.13% to VND23,915.

The dollar was unchanged at VND24,560 on the black market.

The greenback has increased against the dong by 2.78% since the beginning of the year.

Currency markets were lulled by holidays in Japan and the United States on Thursday, leaving the U.S. dollar revelling in its gains after data that cast doubts over market projections for peak Fed rates, Reuters reported.

With markets shut in Japan and the United States for the Thanksgiving holiday, currencies barely moved and cash U.S. Treasuries weren't traded in Asia.

The dollar index rose overnight, bouncing from a 2-1/2 month low, after economic data showed the number of Americans filing new claims for unemployment benefits fell more than expected last week.

"The dollar has partially rebounded after recent are reminded from the University of Michigan survey that inflation expectations for the next 1 and 5 years stay sticky, and that rates could stay higher for longer," said Jeff Ng, head of Asia macro strategy at Sumitomo Mitsui Banking Corporation.

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