USD Index
On November 7, in the US market, the USD Index (DXY) measuring the fluctuations of the greenback against 6 major currencies decreased by 0.28%, standing at 99.93 points.
The US dollar decreased slightly yesterday (November 6), temporarily suspending a series of days of price increases after recently reaching the highest level in many months. Some positive US labor data has encouraged more risky investment, at a disadvantage for this safe-haven currency.
The greenback has recently gained strongly, fueled by growing betting that the Federal Reserve will not cut interest rates in December, especially after Fed Chairman Jerome Powell warned that cuts at the final meeting of the year are not a matter of course.
While were seeing signs of a US dollar rally losing momentum, its true that the market lacks a convincing story to rebuild its US dollar selling position, said ING analysts.
According to these analysts, the lack of data and cautious information from the Fed means there is not much prospect.
"We expect trading to fluctuate within a narrow range today, with the risk of continuing to adjust the USD based on too high a short-term valuation," the report pointed out.
VND vs USD exchange rate
In the domestic market, at the beginning of the trading session on November 7, the State Bank announced that the central exchange rate of the Vietnamese Dong increased by 3 VND, currently at 25,100 VND.
The reference USD exchange rate at the State Bank's Buying and Selling Transaction Office increased by VND2 and VND4, respectively, currently at VND23,895 - VND26,305.
At commercial banks, USD prices increase and decrease depending on the brand.
Banks listed USD selling prices at VND26,355/USD, up VND4/USD.
Bank with the highest cash and transfer price: HSBC (26,206 VND/USD, up 3 VND/USD).
The difference between buying and selling prices at banks ranges from 149-410 VND/USD.
