The U.S. dollar slipped against the Vietnamese dong Monday morning as it fell against the yen after joint intervention by the U.S. and Japan.
Vietcombank sold the greenback at VND26,480, down 0.04% over the weekend. The currency edged 0.01% higher to VND26,283 at unofficial exchange points.
The State Bank of Vietnam increased its reference rate by 0.08% to VND25,358.
Globally, the yen leapt suddenly against the dollar after the U.S. and Japan confirmed joint yen-buying intervention to prop up the frail currency, Reuters reported.
The Japanese yen firmed 0.5% to 156.47 per U.S. dollar after a sudden move earlier in the day put traders on alert for another bout of intervention.
The joint action, confirmed on Monday, was the first since 2011’s coordinated action to weaken the yen following the devastating earthquake in eastern Japan.
The dollar came under pressure, with the euro rising to a 1-1/2-month high of $1.1559 early in Asia, while sterling hovered near a two-week top at $1.3476.
The dollar index was little changed at 99.71, having slid more than 1.5% last week.
