Forex
Dollar Climbs Against Dong Amid Middle East Tensions
The US dollar has gained ground against the Vietnamese dong on the black market, rising by 0.19% to around VND25,760. This comes as the greenback slipped against the yen globally.
The State Bank of Vietnam's reference rate also dropped by 0.04% to VND25,594. Meanwhile, the dollar index, which measures the US currency against six key rivals, hovered at 98.15, close to its lowest level in almost two weeks.
As global oil prices approach $100 per barrel due to the widening conflict in the Middle East, traders are cautious about further rate hikes by the Federal Reserve.