Dollar Edges Up Against Dong Amid Global Market Volatility
The US dollar experienced a slight gain against the Vietnamese dong on Tuesday morning. According to Vietcombank, the greenback rose by 0.08% and was sold at VND26,200.
This uptick is attributed to several global factors. Firstly, the surging oil prices have lifted Treasury yields, which in turn has reinforced expectations that the Federal Reserve will raise interest rates this week, as reported by Reuters.
Additionally, the dollar gained support due to weakened risk appetite after stock markets tumbled, particularly AI-related shares under pressure following industry leaders' calls for slower development to contain potential threats to humanity.
The dollar index, which measures the greenback against a basket of currencies, currently stands at 99.55.