Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado Nov. 3, 2009. Photo by Reuters
The U.S. dollar Thursday morning dropped against the Vietnamese dong and was stalled by the euro’s surge.
Vietcombank sold the dollar at VND25,484, down 0.10% from Wednesday.
The State Bank of Vietnam lowered its reference rate by 0.10% to VND24,271.
The dollar declined on the black market by 0.19% to VND25,790.
Globally the euro clung to its sharpest rise in four months on Thursday following hawkish remarks from a central bank policymaker, while the yen powered toward its strongest week in three months on growing bets Japan could hike interest rates in December, Reuters reported.
The moves stalled the dollar’s resurgence ahead of what is likely to be thin trade through the rest of the week due to the U.S. Thanksgiving holiday.
European Central Bank board member Isabel Schnabel told Bloomberg overnight that rate cuts should be gradual and move to neutral, not accommodative, territory, and investors pulled back on rate cut bets, sending the euro up 0.7% to $1.0560.
