All increased during the week

On the morning of May 14, the USD price at commercial banks recorded a week of increase. For example, Eximbank bought at 23,230 VND and sold at 23,610 VND, up 10 VND compared to the end of last week. Similarly, Vietcombank increased by 20 VND in both directions, bringing the buying price to 23,270 VND and the selling price to 23,640 VND... The free USD price was traded at 23,415 - 23,465 VND, up 10 - 15 VND after a week.

On the contrary, the euro price ended the week down, with Eximbank decreasing by 132 - 238 VND, bringing the buying price down to 25,249 VND and the selling price down to 25,937 VND.

Giá USD hôm nay 14.5.2023: Đồng loạt tăng trong tuần - Ảnh 1. — USD price on the morning of May 14 recorded a week of increase

The international USD price has been continuously increasing this week and the USD-Index reached 102.68 points, up 1.42 points compared to the end of last week. The greenback has skyrocketed compared to many other currencies this week as investors have increased their choice of safe haven assets after a series of negative economic data. Although many reports show that inflation in the US is cooling down, it is still high. That has led many to believe that the US Federal Reserve (Fed) may not be able to cut interest rates yet.

Markets are pricing in a 98% chance that the Fed will hold rates steady at its June meeting, but have already begun pricing in a deep cut later this year, according to the CME FedWatch Tool. Interest rate futures indicate traders expect the Fed to start cutting in September.

Minneapolis Federal Reserve President Neel Kashkari said on May 11 that a prolonged period of high interest rates and an inverted yield curve could put additional stress on the banking system, but would be necessary if inflation remained high.

The Bank of England also raised its benchmark interest rate by a quarter of a percentage point to 4.5% last week, with Governor Andrew Bailey saying the bank was “on track” in trying to curb the highest inflation of any major economy. US Treasury yields are set to rise significantly next month, according to a Reuters poll of analysts.

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