U.S. dollar banknotes are seen in this illustration taken May 4, 2025. Photo by Reuters
The U.S. dollar tumbled against the Vietnamese dong on the black market Tuesday morning.
The greenback plunged 0.74% to VND26,650 at unofficial exchange points.
Vietcombank kept its rate steady at VND26,385.
Globally the dollar held to its losses on Tuesday after the Trump administration opened a criminal investigation into Federal Reserve Chair Jerome Powell, a move that threatens the central bank’s independence and faith in U.S. assets, Reuters reported.
Investors were still trying to come to grips with news of the probe revealed late on Sunday, a move that drew condemnation from former Fed chiefs and marked a dramatic escalation in the U.S. president’s campaign to pressure the central bank into cutting rates faster.
The euro was steady at $1.1663 in early Asia trade, having risen as much as 0.5% in the previous session, while sterling was similarly little changed at $1.3463, holding to Monday’s 0.47% gain.
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