U.S. dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar edged higher against the Vietnamese dong Friday morning as it held steady around a three-month high against major currencies.
Vietcombank sold the greenback at VND26,347, up 0.008% from Thursday. The currency rose 0.16% to around VND27,820 on the black market.
The State Bank of Vietnam raised its reference rate by 0.008% to VND25,093.
Globally, the U.S. dollar held its ground in early Asian trade on Friday after reaching a three-month high as traders processed mixed signals from this week’s central bank decisions, tech sector earnings and a tentative U.S.-China tariff truce, Reuters reported.
The dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.478 after Wall Street stock market losses spooked global markets on Thursday.
The Australian dollar was flat at $0.6555, while the kiwi dollar was also unchanged at $0.574. Sterling was up 0.1% at $1.316.
The U.S. dollar was down 0.1% at 153.935 yen, edging back from a nearly nine-month high. The euro was 0.1% firmer at $1.1572.
Both the Bank of Japan and the European Central Bank kept their interest rates unchanged on Thursday.
“Risk aversion favors the dollar,” said Rodrigo Catril, currency strategist at National Australia Bank in Sydney.
“The Fed isn’t sure whether it will be cutting again,” he added. “And yen weakness coming from what the BOJ is doing isn’t helping.”
