Dollar edges up against dong on black market
The U.S. dollar rose against the Vietnamese dong on the black market Saturday morning.
The dollar edged up against the Vietnamese dong on the black market, reaching VND26,000 per dollar at unofficial exchange points, according to VnExpress Business. Vietcombank maintained its rate at VND26,080. Globally, the dollar was lower on Friday, marking its first weekly decline in over a month against the euro and the yen, driven by dwindling expectations for a Federal Reserve rate hike and apprehensions about an AI-driven equity selloff, as reported by Reuters.
Matt Weller, global head of market research at StoneX, noted the dollar's unusual correlation with the AI trade, contrasting its typical safe-haven status during tech stock sell-offs. The dollar index, which gauges its performance against six major currencies, slipped 0.17% to 101.87 and was poised for a 0.35% weekly decline.
Brief written by urgent.news from VnExpress Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
