U.S. dollar banknotes are seen in this illustration taken July 17, 2022. Photo by Reuters
The U.S. dollar rose to another new peak against the Vietnamese dong but remained steady globally Friday morning.
Vietcombank sold the greenback 0.09% higher at VND26,370.
The State Bank of Vietnam hiked its reference rate by 4.09% to VND25,116.
On the black market the dollar went up 0.19% to VND26,520.
Globally the dollar held gains on Friday after President Donald Trump got his signature tax cut bill across the final hurdle and pressure mounted on countries to secure trade deals with the United States, Reuters reported.
The dollar index, which tracks the greenback against major peers, had its worst first half since 1973 as Trump’s chaotic roll-out of sweeping tariffs stoked concerns about the U.S. economy and the safety of Treasuries.
The gauge stood little changed at 97.056 after a 0.4% advance on Thursday. The euro edged up 0.1% to $1.1765.
“The U.S. labour market is gradually slowing down, but the fact that it hasn’t experienced a sudden change is reassuring,” said SMBC chief currency strategist Hirofumi Suzuki.
“I personally predict that the tariff negotiations will not be very favorable, leading to continued dollar weakness and yen strength.”
