U.S. dollar banknotes are displayed in this illustration taken Feb. 14, 2022. Photo by Reuters
The U.S. dollar declined slightly against the Vietnamese dong on the black market Saturday morning.
Unofficial exchange points sold the greenback 0.07% lower at VND27,730.
Vietcombank kept its rate unchanged at VND26,412.
Globally the U.S. dollar was heading for its worst weekly performance since late July on Friday as traders increased bets that the Federal Reserve will cut rates again next month, Reuters reported.
The dollar has dropped this week as traders conclude that weakening labor data will lead to more rate cuts, even as many Fed policymakers express concern about still-elevated inflation.
“It feels like with the post-shutdown run of releases, it’s generally been soft … the data overall definitely leaned towards a cut,” said Eric Theoret, FX strategist at Scotiabank in Toronto.
The dollar index, which measures the greenback’s strength against a basket of six major peers, was last down 0.09% at 99.44, and on track for a 0.61% weekly loss, its largest since July 21.
