Dollar dips against dong
The U.S. dollar weakened against the Vietnamese dong Wednesday morning while trading near multi-month lows against other major currencies.
The Vietnamese dong experienced a slight depreciation against the U.S. dollar on Wednesday, according to reports from Vietcombank and the black market. The official rate fell to VND26,400 from VND26,408 on Tuesday. On the black market, the dong traded around VND25,800. The State Bank of Vietnam adjusted its reference rate by 0.07% to VND25,598.
Globally, the U.S. dollar hovered near multi-month lows against major currencies, as investors awaited clues from the Federal Reserve's latest policy meeting minutes. The dollar index, a measure of the dollar's strength, dipped marginally to 99.65. Meanwhile, the euro showed signs of resilience, inching upward to $1.1577, holding near a two-month high.
The British pound remained steady around $1.3533, near a three-month peak. The Japanese yen showed minimal movement, trading at 159.56 per dollar, still far from its multi-decade low of around 164. Recent data has suggested a weakening U.S. economy, with unexpected job losses in July and mild inflation readings, prompting investors to reassess rate-hike expectations.
Analysts suggest that the labor market and inflation data may be turning, leading to a narrowing of the dollar's yield advantage and a softer dollar overall.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
