U.S. Dollar Attains 11-Week High Against Vietnamese Dong

In a noteworthy development on Thursday morning, the U.S. dollar surged to its highest point against the Vietnamese dong since November 2. Vietcombank reported a 0.16% increase, selling the dollar at VND24,740, in contrast to Wednesday’s figures.

Conversely, Eximbank recorded a marginal 0.08% decline, selling the greenback at VND24,680. The State Bank of Vietnam echoed this dynamic by elevating its reference rate by 0.10%, setting it at VND24,041.

On the black market, the dollar exhibited a 0.04% rise, settling at VND24,980. This marks a cumulative 1.31% uptick against the dong since the commencement of the year.

Internationally, the U.S. dollar maintained proximity to a one-month pinnacle against major peers, buoyed by robust U.S. retail sales data, as reported by Reuters. This data further fueled expectations that the Federal Reserve would exercise prudence and refrain from hasty interest rate reductions.

The Australian dollar, on the other hand, experienced a weakening trend following unforeseen declines in employment figures.

The U.S. dollar index, gauging the currency against a basket of six counterparts, exhibited minimal fluctuation, trading at 103.36 in the Asian morning. This follows Wednesday’s achievement of 103.69, the highest level since December 13.

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