DNVN - January 15, 2025, the US dollar lost value against the euro on Tuesday, but remained near its highest level in more than two years.
USD exchange rate on the world market
The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), fell to 109.19, down 0.62 points from January 14, 2025.
The dollar fell against the euro on Tuesday but held near its highest level in more than two years, as lower-than-expected inflation data combined with last week’s strong jobs report raised uncertainty about the Fed’s interest rate outlook.
US producer prices rose only modestly in December, prompting investors to reduce expectations for a possible interest rate cut as US tariff issues continued to dominate the headlines.
The greenback pared late gains as markets awaited Wednesday’s consumer price index report. Investors have been closely watching the economic data to gauge the Fed’s cautious stance on interest rate policy.
“It’s likely that traders are hedging to the other side of the market right now ahead of the CPI release tomorrow, so we’re seeing some pre-release volatility that’s pushing the dollar down a bit,” said Helen Given, vice president of trading at Monex USA. “It looks like the tariff narrative is the main driver of today’s price action.”
The market is now pricing in the first Fed rate cut in September, although the Fed's expected 50 basis points is down from what was previously suggested.
President-elect Donald Trump, who begins his second term next week, is expected to enact policies that will boost economic growth and inflation.
The threat of US tariff policies and the Fed slowing the pace of interest rate cuts helped increase Treasury yields, further supporting the USD.
However, markets on Tuesday turned their attention back to the possibility of a US tariff hike, especially after a Bloomberg report that the policy could be implemented in a more cautious manner.
Scott Bessent, the nominee for Treasury secretary, is expected to focus on reducing the budget deficit and using tariffs as a negotiating tool to control inflation.
Brad Bechtel, global head of FX at Jefferies, said that while the CPI report is important, market attention is now focused on the new Trump administration.
Matt Weller, director of market research at StoneX, said the CPI reading will be important for the Fed and investors, especially if the CPI data is low enough to encourage buying of risk assets.
The dollar index fell 0.14% to 109.25, below a 26-month high of 110.17 hit on Monday. It hit 114.78 in October 2022, its highest since 2002.
Domestic USD exchange rate
In Vietnam, early on January 15, the central exchange rate announced by the State Bank increased by 3 VND to 24,346 VND.
The reference buying and selling exchange rates at the State Bank of Vietnam remain unchanged, at 23,400 VND - 25,450 VND.
Vietcombank adjusted the USD exchange rate up 3 VND compared to the previous day, currently at 25,173 - 25,563 VND/USD.
TPBank lists the lowest USD cash purchase price: 1 USD = 24,390 VND, and the lowest transfer purchase price: 1 USD = 24,430 VND.
HSBC Bank listed the highest cash purchase price: 1 USD = 25,285 VND, while VietinBank has the highest transfer purchase price: 1 USD = 25,563 VND.
TPBank lists the lowest USD cash selling price: 1 USD = 24,870 VND, while HSBC has the lowest transfer selling price: 1 USD = 25,513 VND.
ABBank, BIDV, Eximbank, GPBank, and many other banks sell USD cash at the highest price: 1 USD = 25,563 VND.
In the free market, the black market USD price increased by 1 VND in buying and decreased by 9 VND in selling, fluctuating at 25,635 - 25,735 VND/USD.
The EUR exchange rate at the State Bank of Vietnam increased slightly, currently at 23,697 VND - 26,191 VND.
The Japanese yen exchange rate remained unchanged, remaining at 146 VND - 162 VND.
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Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-15-1-2025-dong-usd-tiep-tuc-suy-yeu/20250115081257853
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