The U.S. dollar rose against the Vietnamese dong on the black market Wednesday morning while trading firm against major currencies.
The greenback went up 0.13% to around VND26,584 at unofficial exchange points. Vietcombank kept its rate steady at VND26,466.
The State Bank of Vietnam’s reference rate was unchanged at VND25,206.
Globally, the dollar got a boost from a sharp rise in Treasury yields and pushed the yen to a 40-year trough on Wednesday, as traders braced for a crucial U.S. jobs report and ramped up bets on an imminent Federal Reserve rate hike, Reuters reported.
The dollar rose to a fresh top of 162.77 yen in the early Asian session, well above levels that prompted Japanese authorities to intervene a few months ago to shore up the ailing currency.
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An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung |
In the broader market, the dollar was on the front foot, as it rode an overnight jump in U.S. Treasury yields.
Against a basket of currencies, the dollar steadied at 101.24. The euro fell 0.07% to $1.1413, while sterling eased 0.09% to $1.3252.
“All the evidence and the Fed’s view itself is that the labor market is proving to be resilient, and therefore in terms of the Fed’s dual mandate, the labor market is clearly not giving any signal that they should be thinking about cutting rates,” said Ray Attrill, head of FX strategy at National Australia Bank.
