U.S. dollar and euro banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar edged up against the Vietnamese dong Tuesday morning while it hit a three-week high against major peers.
Vietcombank sold the greenback at VND25,820, up 0.04% from Monday. On the black market, the dollar dipped 0.02% to VND25,905.
The State Bank of Vietnam’s reference rate surged 0.17% to VND24,874.
Globally, the dollar hit a three-week high against the yen on Tuesday and was firm across the board after some strong U.S. services data and cautious optimism on the tariff front, Reuters reported.
President Donald Trump said not all of his threatened levies would be imposed on April 2 and some countries may get breaks, which helped the dollar and the mood on Wall Street overnight by soothing some fears about a possible slowdown in U.S growth.
The U.S. dollar index notched a fourth straight session of gains to settle at 104.3.
The dollar was last up at 150.56, having pulled overnight above 150 yen. It rose to a three-week high of 150.92 yen in the Asia morning.
The dollar also hit its strongest since March 6 at $1.0781 per euro, as a powerful rally in the common currency loses steam.
It was last trading at $1.0804, while sterling hit a two-week low of $1.2883 before steadying at $1.2935 in Asia trade.
“It seems like nobody knows what to do with the dollar,” said Brent Donnelly, president at analytics firm Spectra Markets.
“The view that tariffs are unambiguously bullish U.S dollar has been challenged by the price action in 2025, and so even when we get the information on what tariffs look like next week, it will be hard to know what we are supposed to do.”
