US dollar bills. Photo by Unsplash/Andrew Dawes
The U.S. dollar fell against the Vietnamese dong on the black market Saturday morning after it declined against the British pound.
The dollar dipped 0.04% to VND26,170 at unofficial exchange points. Vietcombank kept its rate unchanged at VND26,070.
Globally the pound rose on Friday as the dollar dipped on the back of falling oil prices, with Britain’s currency set to end the week little changed against the U.S. currency but higher versus the euro, Reuters reported.
Currency markets have been roiled over the last two weeks by sharp rises in bond yields around the world, driven by rising energy prices.
Sterling was last up 0.1% at $1.324. It fell to $1.3184 on Thursday as the dollar strengthened, around its lowest since late June.
Investment bank ING said the dollar could remain strong as energy prices support the case for further Federal Reserve interest rate hikes, keeping other currencies under pressure.
“We don’t see signs of a broader U.S. dollar correction brewing,” said Francesco Pesole, currency strategist at ING.