A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters
The U.S. dollar went up against the Vietnamese dong on the black market Friday morning while falling against major currencies.
The greenback rose 0.19% to VND26,550 at unofficial exchange points. Vietcombank sold the currency at VND26,110, the same rate as Thursday.
The State Bank of Vietnam lowered its reference rate by 0.04% to VND24,960.
Globally, the dollar fell in tandem with U.S. Treasury yields on Friday after downside surprises on U.S. economic data this week cemented bets of more Federal Reserve rate cuts this year, Reuters reported.
The week started out with a mix of market tailwinds headlined by a U.S.-China trade truce which propelled the dollar higher, though the euphoria soon fizzled out and left currencies trading sideways.
Most of the action in the foreign exchange market came from the dollar’s moves against the South Korean won, where it fell sharply for two straight days on news that Washington and Seoul discussed the dollar/won market earlier this month. The dollar last traded 0.14% lower at 1,394.70 won.
In the broader market, the dollar was struggling to regain its footing after an overnight slide following data which showed U.S. producer prices unexpectedly fell in April.
The PPI figures came on the heels of a tame consumer price reading earlier in the week, cementing bets that the Fed is likely to cut rates at least twice this year.
Against a basket of currencies, the dollar fell 0.1% to 100.70, though was on track for a marginal weekly gain of 0.3% thanks to its sharp 1.3% rise on Monday.
The euro was up 0.1% to $1.1197 while sterling steadied at $1.3309. Elsewhere, the dollar was down 0.26% against the yen at 145.30.
