Dollar spikes against dong on black market
The U.S. dollar rose against the Vietnamese dong on the black market Saturday morning.
The Vietnamese Dong saw the dollar rise by 1.04% on the black market, with rates at VND26,140, according to unofficial exchange points. Vietcombank maintained its rate at VND25,910. Globally, the dollar was close to a 19-month high, buoyed by expectations of a larger Federal Reserve rate hike and rising Treasury yields. Meanwhile, the Euro dipped 0.26% against the dollar.
The dollar's strength was also evident against the Swiss franc, up 0.47%, and traders were on high alert for potential Tokyo intervention due to the yen's hovering around 160 per dollar. Marc Chandler, chief market strategist at Bannockburn Global Forex, attributed the dollar's resilience to a robust jobs report and accelerating Consumer Price Index (CPI).
Fed officials, including New York Fed President John Williams and Fed Governor Christopher Waller, have been expressing hawkish sentiments.
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