Dollar Eases as Dong Stays Resilient: International Edition (English)

On Wednesday morning, the U.S. dollar experienced a minor decline against the Vietnamese dong but remained stable when compared to key global currencies.

At Vietcombank, the U.S. dollar was sold for VND26,140, marking a decrease of 0.04% compared to Tuesday’s rate. On the informal market, the dollar dropped by 0.11%, trading at around VND26,500.

The State Bank of Vietnam reduced its reference rate by 0.03% to VND24,930.

Worldwide, the dollar stabilized on Wednesday ahead of a Federal Reserve gathering aimed at setting policies for an unpredictable economic landscape. Additionally, key players in the Asian market kept liquidating their holdings in U.S. assets. Reuters reported.

The dollar index remained largely unchanged following a 0.2% drop on Tuesday, marking its third consecutive decrease. Meanwhile, the euro dipped slightly by 0.2%, trading at $1.1338.

The Hong Kong dollar fluctuated slightly away from the stronger side of its peg range, while the Japanese yen weakened by 0.5%, ending a streak of three consecutive days of gains as Japan’s financial markets resumed trading following a two-day break.

The US dollar experienced a minor rebound ahead of the upcoming trade discussions; however, widespread skepticism regarding both the American economy and the currency persists, as noted by IG analyst Tony Sycamore.

Sycamore stated that the theme of a weakening U.S. dollar isn’t likely to shift. Additionally, many international investors remain uncertain about wanting significant exposure or an increased weighting in U.S. stocks.