Dollar tiptoes up against dong

The U.S. dollar exhibited slight gains against the Vietnamese dong, trading at VND26,120, according to Vietcombank. On the underground market, the dollar remained stable at VND25,760. Globally, the dollar found itself near its highest levels of the past week, while the yen experienced a decline for two consecutive days at the beginning of Asian trading on Friday.

This shift came about due to heightened concerns over potential disruptions in the Middle East's energy supply, which prompted an increase in bond yields and oil prices, as reported by Reuters. The U.S. dollar index, which tracks the dollar's strength against a basket of six currencies, stood at 99.081, maintaining its position after a 0.3% rise on Thursday.

This gain marked its highest level since September 7, 2021. The surge followed the release of data indicating that U.S. producer prices rose by 0.4% in August, meeting market forecasts as energy prices rebounded during the same period. In comparison to the yen, the dollar strengthened by up to 0.1% to 154.615 yen, while the euro also showed a similar increase to as much as 179.49 yen following the European Central Bank's decision to raise interest rates for the second time in 2023.