US Dollar Rises Against Vietnamese Dong

The US dollar experienced a 0.17% increase against the Vietnamese dong in unofficial exchange points, reaching VND25,800. Meanwhile, Vietcombank maintained the dollar at a stable rate of VND25,558.

Global Impact on Currency Markets

Globally, the dollar remained near its 14-month high following a strong payrolls report, which pushed up bond yields and tested the high valuations of equities. This comes as the earnings season begins, according to Reuters.

The continuous rise in Treasury yields has strengthened the dollar, causing the euro to decline for eight consecutive weeks to $1.0230, just above its lowest since November 2022.

Currency Movements in Asia

In Asia, the dollar decreased to 157.60 yen, down from a six-month high of 158.88. This movement comes amid reports that the Bank of Japan may increase its inflation forecasts this month, potentially leading to another rate hike.

Sterling remained at a 14-month low of $1.2170, affected by a recent downturn in the gilt market due to concerns over increased borrowing by the Labour government to fund spending commitments.