Dollar ticks up against dong

By Dat Nguyen   November 7, 2023 | 09:04 pm PT
Dollar ticks up against dong
An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung
The U.S. dollar gained little against the Vietnamese dong Wednesday morning.

Vietcombank sold the dollar at VND24,510, up 0.08% from Tuesday.

The State Bank of Vietnam set its reference rate at VND23,985, down 0.12%.

The greenback fell 0.20% to VND24,550 on the black market.

It has increased against the dong by 3.29% since the beginning of the year.

Globally, the dollar regained its footing on Wednesday and inched higher after a slew of Federal Reserve speakers left the door open to further rate hikes, as traders looked to a speech from Chair Jerome Powell on the central bank's future policy path, Reuters reported.

The greenback, which tumbled last week in the wake of the Fed's decision to hold its policy rate steady and on data pointing to a cooling U.S. labour market, has found a floor as markets remain at odds over whether a peak in U.S. rates has been reached and how soon the Fed could begin easing monetary conditions.

The British pound , which earlier in the week hit a seven-week top against the dollar, was last some distance away at $1.2286.

The Japanese yen again slipped to the weaker side of 150 per dollar after a slight reprieve last week. It last stood at 150.56 per dollar.

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