An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar fell slightly against the Vietnamese dong Wednesday morning while holding firm against major currencies.
Vietcombank sold the greenback at VND26,140, down 0.04% from Tuesday. The dollar fell 0.11% to VND26,500 on the black market.
The State Bank of Vietnam lowered its reference rate by 0.03% to VND24,930.
Globally, the dollar steadied on Wednesday before a Federal Reserve meeting to determine policy for an uncertain economy and as major investors in Asia continued cashing out of U.S. assets, Reuters reported.
The dollar index was little changed after slipping 0.2% on Tuesday, its third-straight decline. The euro edged 0.2% lower to $1.1338.
The Hong Kong dollar traded a bit away from the strong end of its peg and the Japanese yen was 0.5% weaker, snapping a three-day advance as Japanese markets reopened after a two-day holiday.
The greenback got a “micro bounce” on the impending trade talks, but broad pessimism about the U.S. economy and the dollar remain intact, according to IG analyst Tony Sycamore.
“I don’t think the theme of U.S. dollar weakness is going to change,” Sycamore said. “There’s also a lot of uncertainty from offshore investors as to whether they want to be overexposed or overweight U.S. equities.”
