An employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
The U.S. dollar weakened against the Vietnamese dong Wednesday morning as it held firm against major currencies.
Vietcombank sold the greenback at VND26,482, down 0.06% from Tuesday. The currency traded at around VND26,680 on the black market.
The State Bank of Vietnam lowered its reference rate by 0.06% to VND25,221.
Globally, the U.S. dollar was steady on Wednesday, holding onto overnight gains as traders braced for crucial inflation reports this week that could help define the size and scope of interest rate cuts from the Federal Reserve for next week and beyond, Reuters reported.
“Given sticky services prices and the Fed’s preference for signalling gradualism, a jumbo cut next week looks unlikely, but the data will shape how aggressively the market prices the easing path into year end,” said Kieran Williams, head of Asia FX at InTouch Capital Markets.
That left the currency markets in limbo in Asian hours. The euro eased a touch to $1.16985 after dropping 0.5% in the previous session while sterling was at $1.3522. The yen was little changed at 147.42 per dollar.
The Australian dollar was at $0.6587, hovering near the seven-week high it touched on Tuesday.
The dollar index, which measures the U.S. currency against six other units, was steady at 97.834 after gaining 0.3% on Tuesday. The index is down about 10% in 2025 as erratic U.S. trade policies and rate cut expectations dented the dollar’s appeal.
