Dollar steadies at 5-month peak

By Dat Nguyen   August 3, 2023 | 08:20 pm PT
Dollar steadies at 5-month peak
U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. Photo by Reuters
The U.S. dollar rose against the Vietnamese dong Friday morning and remained at the highest in five months.

Vietcombank sold the dollar at VND23,930, up 0.04% from Thursday’s closing price.

The State Bank of Vietnam raised its reference 0.09% to VND23,825.

The dollar went up 0.08% VND23,780 on the black market.

It has gained over the dong by 0.84% since the beginning of the year.

Globally, the dollar hung back from a four-week high against major peers on Friday as investors looked ahead to a key jobs report that could influence the path for U.S. interest rates, Reuters reported.

Sterling traded slightly higher after recovering knee-jerk losses following the Bank of England’s decision to downshift to a quarter point rate hike on Thursday.

The yen hovered near the middle of its trading range this week as traders tried to gauge the Bank of Japan’s tolerance for higher yields following last week’s surprise policy tweak.

Meanwhile, the risk-sensitive Australian dollar strengthened amid a rebound in Chinese stocks and U.S. equity futures.

The U.S. dollar index, which gauges the currency against a basket of six counterparts, edged 0.07% lower to 102.38 in early Asia. On Thursday, it had pushed to the highest since July 7 at 102.84 at one point, but lost steam later in the day with the monthly nonfarm payrolls report looming on Friday.

However, the dollar edged higher to 142.64 yen, aided by the rise in long-term Treasury yields to a nearly nine-month high at 4.198% overnight.

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