U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar inched up against the Vietnamese dong Wednesday morning as it edged higher against peers.
Vietcombank sold the currency at VND26,536, up 0.02% from Tuesday. The greenback climbed 0.53% to around VND26,720 on the black market.
The State Bank of Vietnam kept its reference rate steady at VND25,273.
Globally, the dollar index rose about 0.2% against its rivals on Wednesday, Reuters reported.
Against a basket of currencies, the dollar edged marginally higher to 98.27, after falling 0.24% in the previous session.
The euro last fetched $1.1636, while the yen was steady at 147.6 a dollar. Sterling was similarly little changed at $1.3478.
The U.S. Treasury yield curve has been steepening since President Donald Trump on Monday ordered the firing of Federal Reserve Governor Lisa Cook, an unprecedented move that could lead to a legal tussle after a lawyer for Cook said she will file a lawsuit to prevent it.
“It’s the latest salvo in the Fed wars and shows how increasingly politicized the central bank is becoming,” said Neil Wilson, UK investor strategist at Saxo, referring to Trump’s attempt to fire Cook.
“It’s going to be virtually impossible for the next chair to do anything other than Trump’s bidding. This should be negative for the dollar. The question for markets right now is about the September meeting but be in no doubt that we are witnessing a regime shift like we have not seen in decades.”
