Dollar Gains Against Vietnamese Dong Amid Global Volatility
The US dollar rose against the Vietnamese dong on Wednesday morning, reaching a one-month high against major peers.
Vietcombank sold the greenback at VND26,530, up 0.02% from Tuesday's price. In contrast, the currency slipped to around VND26,380 on the black market, down 0.08%.
The State Bank of Vietnam kept its reference rate at a record high of VND25,293.
Globally, the US dollar held firm near a one-month high due to ongoing hostilities in the Middle East and anticipation of a key Federal Reserve interest rate decision later in the day. According to Reuters, the dollar was steady at 101.38 against its peers and stood near a 40-year peak against the yen at 163.74.
Sterling eased 0.03% to $1.3287, while the euro nursed losses after falling to a one-month low in the previous session, inching up 0.03% to $1.1389. The Australian dollar slid 0.37% to $0.69475.
Sim Moh Siong, a strategist at OCBC, predicted that even if the Fed stays on hold, its hawkish guidance could support the dollar.