An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar strengthened against the Vietnamese dong Wednesday morning as it rose to a more than two-week high against the yen.
Vietcombank sold the greenback at VND26,320, a 0.06% increase from Tuesday. The dollar fell by 0.04% to VND26,490 on the black market.
The State Bank of Vietnam reduced its reference rate by 0.008% to VND25,119.
Globally, the dollar strengthened to a more than two-week high against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners, Reuters reported.
The dollar climbed 0.4% to 147.12 yen, after touching 147.19, the strongest since June 23. The euro lost 0.2% to $1.1706 .
The dollar index rose 0.1%, advancing for a third-straight day. Sterling traded at $1.3569 down 0.2%.
The dollar index, which measures the greenback against six major peers, is still down more than 6% since the April 2 unveiling of Trump’s sweeping “Liberation Day” reciprocal tariffs, which caused markets to swoon and were later mostly postponed to give time to ink bilateral trade deals.
“The market’s second take on the reciprocal tariff announcements was actually dollar negative on the view that there was as much harm, or more harm, going to be inflicted on the U.S. from these actions as elsewhere,” said Ray Attrill, head of FX strategy at the National Australia Bank.
