An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by Read/Thanh Tung
The U.S. dollar strengthened slightly against the Vietnamese dong Friday morning as it remained steady against major peers.
Vietcombank sold the dollar at VND25,558, up 0.01% from Thursday. The greenback held stable at around VND25,755 on the black market.
The State Bank of Vietnam raised its reference rate by 0.01% to VND24,341. The dollar has dropped 0.03% against the dong since the start of the year.
Globally, the dollar looked set to extend its longest weekly winning streak in over a year on Friday, underpinned by rising bond yields and expectations of another strong set of U.S. jobs numbers, Reuters reported.
The dollar index, which measures the U.S. currency against six other units, is set for a sixth consecutive weekly gain, its longest run since an 11-week streak in 2023 as the U.S. economy continues to seem strong in contrast with weaknesses elsewhere.
The index was steady in the Asia morning on Friday for a 0.25% weekly rise to 109.18.
The dollar has gained 0.5% on the yen this week to buy 158.03 yen. Sterling was last a fraction weaker at $1.2295, having touched a 14-month low of $1.2239 earlier in the week. The dollar is set for a broadly steady week on the euro, which buys $1.0926.
Overnight Philadelphia Fed President Patrick Harker said he expects the U.S. central bank to cut interest rates, but added that an imminent move down is not needed.
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