U.S. dollar and Vietnamese dong banknotes seen at a bank in Ho Chi Minh City. Photo by VnExpress/Anh Tu
The U.S. dollar rose against the Vietnamese dong on the black market Monday morning while trading near 14-month highs against major peers.
The greenback rose 0.17% from the weekend to VND25,800 at unofficial exchange points. Vietcombank kept the dollar stable at VND25,558.
The State Bank of Vietnam raised its reference rate by 0.008% to VND24,343.
Globally, the dollar held near 14-month peaks after an unambiguously strong payrolls report shoved up bond yields and tested lofty equity valuations, just as the earnings season gets under way, Reuters reported.
The inexorable rise in Treasury yields has boosted the dollar across the board and seen the euro fall for eight weeks straight to sit at $1.0230, just above its lowest since November 2022.
The dollar eased to 157.60 yen, and off a six-month top of 158.88 amid reports the Bank of Japan might revise up its inflation forecasts this month as a prelude to hiking rates again.
Sterling was pinned at 14-month lows of $1.2170, with sentiment soured by a recent rout in the gilt market on concerns the Labour government would have to borrow more to fund spending pledges.
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