Dollar falls against dong

The Vietnamese dong experienced a slight rise against the dollar, strengthening to VND26,250, a 0.23% increase from the previous day. However, the black market saw the currency climb further, reaching VND25,910, a 0.04% gain. The State Bank of Vietnam adjusted its reference rate by 0.04%, setting it at VND25,600. On a global scale, the dollar faced a challenging week, with investors viewing the U.S. Treasury's bond buyback initiative as a short-term solution.

This perception, coupled with concerns over the Federal Reserve's growing interventionist stance, contributed to the dollar's downward trajectory, which was projected to fall over 0.8% for the week. As of the latest data, the dollar traded at 98.82, hovering near its three-month low against a basket of currencies. Conversely, the euro demonstrated resilience, nearing a three-month high against the dollar, with a purchase price of $1.1685 and a projected weekly gain of 1%.

Meanwhile, the British pound showed signs of strength, edging closer to a six-month peak, increasing by 0.08% to $1.3643, marking a weekly rise of 0.8%. Despite U.S. Treasury Secretary Scott Bessent hinting at potential increases in the government's Treasury repurchases and the White House budget director Russell Vought announcing a new fiscal consolidation drive under President Donald Trump, these measures failed to alleviate investor concerns over the deteriorating fiscal situation and the perceived credibility of U.S. institutions.