U.S. dollar and Vietnamese dong banknotes seen at a bank in Ho Chi Minh City. Photo by VnExpress/Anh Tu
The U.S. dollar weakened against the Vietnamese dong Wednesday morning as it edged higher against major currencies.
Vietcombank sold the greenback at VND25,780, down 0.12% from Tuesday. The currency gained 0.08% to VND25,930 on the black market.
The State Bank of Vietnam raised its reference rate by 0.2% to VND24,851.
Globally, the U.S. dollar meandered on Wednesday as markets awaited clarity on President Donald Trump’s trade policy ahead of a new round of tariffs next week, Reuters reported.
The U.S. dollar index, which measures the currency against a basket of six major peers, inched 0.07% higher. That was after slipping 0.12% on Tuesday, its first losing session in about a week.
The dollar added 0.16% to 150.16 yen. The euro slipped 0.09% to $1.0782, and sterling drooped 0.1% to $1.2931.
Tariffs and threats of the duties have already driven counterintuitive moves in currency markets as concerns they may drive down U.S. growth have confounded the assumption that the levies should be inflationary and drive up the dollar.
Overnight data showing U.S. consumer confidence plunged to the lowest level in more than four years in March highlighted how the uncertainty is weighing heavily on households.
For the quarter, the dollar index – which had rallied strongly between September and January – is headed for a roughly 4% drop.
