A packet of U.S. five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. Photo by Reuters
The U.S. dollar fell against the Vietnamese dong and major peers on Wednesday morning.
Vietcombank sold the dollar at VND25,420, down 0.12% from Tuesday. The greenback declined by roughly the same rate to VND25,600 on the black market.
The State Bank of Vietnam lowered its reference rate by 0.02% to VND24,332.
Globally, the dollar drifted slightly lower on Wednesday in indecisive trading as a lack of clarity on President Donald Trump’s plans for tariffs kept financial markets guessing, Reuters reported.
A lack of specific plans from Trump’s first day in office saw the dollar start the week with a 1.2% slide against a basket of major peers. It stabilized on Tuesday, ending flat after an attempted rebound fizzled, with U.S. officials saying any new taxes would be imposed in a measured way.
The dollar index, which tracks the currency against the euro, yen and four other top rivals, was down 0.14% at 108. The euro slipped 0.07% to $1.0420, while the yen edged up slightly to 155.40 per dollar.
“While Trump threatened tariffs up to 25% on Mexico and Canada, he refrained from enacting them despite signing several executive orders,” said Tony Sycamore, an analyst at IG.
“His decision not to target China is being taken as a possible sign of a more cautious approach to tariffs than promised during his campaign, reducing inflation risks and potential hawkish Federal Reserve actions.”
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