An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar rose against the Vietnamese dong on the black market Monday morning.
Unofficial exchange points sold the currency at VND26,380, a 0.2% gain from the weekend.
Vietcombank kept the greenback at VND26,220.
The State Bank of Vietnam maintained a reference rate of VND24,992.
Globally, the dollar held steady against all major currencies on Monday, as exuberance over an upbeat U.S. employment report gave way to caution ahead of pivotal U.S.-China trade talks set to take place in London later in the day, Reuters reported.
The dollar index, which measures the U.S. currency against six others, was steady at 99.169. The yield on 10-year Treasury notes was flat in early Asia trading, after a more than 10 basis points jump on Friday.
The dollar slid 0.3% against the yen to 144.39, trimming its 0.9% jump on Friday. The European single currency was up 0.2% on the day at $1.1422.
An inflation report out of the U.S. for the month of May will be in the spotlight later in the week as investors and Federal Reserve policymakers look for evidence on the damage trade restrictive policies have had on the economy.
“May is the first month where the impact of Trump’s 10% universal tariff on imports ex-USMCA is expected to show. The Fed will want a few months of inflation data in order to judge the tariff impact and most importantly, its persistence,” analysts at ANZ Bank said.
