Dollar strengthens against dong

The Vietnamese dong experienced a strengthening against the U.S. dollar over the weekend. Vietcombank sold the greenback at a rate of VND26,130, marking an increase of 0.08% from the previous weekend. On the parallel market, the dong gained further ground, trading at approximately VND25,810, a 0.12% improvement. The State Bank of Vietnam adjusted its reference rate upward by 0.04% to VND25,607.

On the global stage, the dollar gained momentum on Monday. The yen edged close to a seven-month high, as investors speculated about potential rate hikes from the Federal Reserve and the Bank of Japan later in the week. Rising oil prices, driven by escalating tensions in the Gulf, dampened market sentiment. The U.S. dollar index, which tracks the dollar's performance against six key currencies, saw a 0.12% increase, reaching 99.22 after two weeks of sluggish declines.

Meanwhile, the euro slipped slightly by 0.1% to $1.1585, while the British pound weakened by 0.1% to $1.3516. The Japanese yen also experienced a minor downturn of 0.3%, settling at 154.03 per U.S. dollar. Despite this, the yen remained near its seven-month peak of 152.89 observed the previous week. In energy markets, Brent crude oil futures surged nearly 3% to $107.6 per barrel following a series of Houthi missile strikes on Saudi Arabia and Iranian attacks on ships in the Gulf. These developments added to supply concerns following the closure of a crucial Saudi oil pipeline.