U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar weakened against the Vietnamese dong Friday morning and was set to for a weekly loss against major peers.
Vietcombank sold the currency at VND26,390, a 0.04% drop from Thursday. On the black market, the greenback inched down 0.03% to around VND26,490.
The State Bank of Vietnam reduced its reference rate by 0.04% to VND25,228.
Globally, the dollar was under pressure on Friday and was on course for a weekly fall as U.S. President Donald Trump’s temporary choice for a fill-in Federal Reserve Governor stoked expectations for a dovish pick to replace chair Jerome Powell when his term ends, Reuters reported.
The dollar index was last at 98.04 in early trading on Friday. The Japanese yen was flat at 147.07 per dollar.
The pound was nearly flat at $1.3439 on Friday, holding the previous session’s gains and on course to clock its best weekly performance since late June.
Against a basket of peers, the dollar is down nearly 0.7% on the week so far as concerns over softening U.S. economic momentum, especially in the labor market, boosted hopes of Fed rate cuts.
Elsewhere, the euro was perched near a two-week high as investors found comfort in the prospect of talks between the U.S. and Russia aimed at ending the conflict in Ukraine.
