On Tuesday morning, the U.S. dollar witnessed a slight increase in value against the Vietnamese dong, maintaining a position close to its two-month peak in comparison to other major currencies. The commercial bank Vietcombank recorded a 0.004% rise in the U.S. currency, selling it at VND26,408. Conversely, the black market saw a 0.04% decrease, with the dollar going for VND26,360.
Global Performance of the U.S. Dollar
In the international currency market, the U.S. dollar remained strong and close to a two-month high on Tuesday. The stability of the dollar can be attributed to the uncertainty in the Middle East which has led to a reduced risk appetite among traders. Furthermore, speculations about a potential rate hike by the Federal Reserve later in the year have also played a role.
Among other major currencies, the euro was valued at $1.1528 while the sterling was valued at $1.3335. Both currencies had experienced a decline of approximately 0.05% in the Asian market after reaching their lowest value in two months during the previous trading session.
The risk-sensitive currencies such as the Australian dollar and the New Zealand dollar were not spared. The Australian dollar depreciated by 0.1% to $0.7039, while the New Zealand dollar was traded at $0.5804.
The Japanese yen was also affected, weakening to as much as 160.295. It continued to hover around the 160 level, a mark recognized as the threshold for possible official intervention.
Performance of the Dollar Index
The dollar index, reflecting the performance of the U.S. dollar against a basket of currencies such as the yen and the euro, remained nearly unchanged. The index was recorded at 100.03, extremely close to its two-month high of 100.21 from the previous day.
Questions & Answers
What was the value of the U.S. dollar against the Vietnamese dong on Tuesday morning?
The U.S. dollar was valued slightly higher against the Vietnamese dong, selling at VND26,408 in Vietcombank.
Why has the U.S. dollar held near a two-month high globally?
The strength of the U.S. dollar can be attributed to the prevailing uncertainty in the Middle East, reducing risk appetite among traders. Additionally, speculations of a Federal Reserve rate hike later in the year have contributed to the dollar’s high standing.
How did other major currencies perform against the U.S. dollar?
The euro and sterling both experienced a decline of around 0.05%. The Australian dollar depreciated by 0.1% while the New Zealand dollar traded at $0.5804. The Japanese yen also weakened, hovering around the 160 level.
