Dollar Down Against Vietnamese Dong Amid Global Economic Uncertainty

The US dollar experienced a slight decline against the Vietnamese dong on Monday morning. According to Vietcombank, the greenback was sold at VND26,250, down 0.02% from the previous weekend. In contrast, the black market saw the currency trading at around VND25,810.

The State Bank of Vietnam reduced its reference rate by 0.04% to VND25,605. Globally, the dollar faced pressure as Middle East tensions raised concerns about inflationary pressures that could lead central banks to tighten policy.

As a result, the dollar fell against major currencies, including the yen, euro, and sterling. The yen rose more than 0.2% to 155.88 per dollar, while the euro was up marginally at $1.1618. Sterling remained little changed at $1.3519.

Economist Elias Haddad of BBH stated that a hot CPI print would seal a September hike and support a firmer US dollar, while a cooler reading would strengthen the case for a hold and leave the dollar vulnerable to a dovish Fed repricing.