DNVN - In the most recent trading session, the USD recorded a slight recovery, after falling to a two-week low in the previous session.
USD exchange rate on the world market
The Dollar Index (DXY), which measures the strength of the USD against six major currencies including EUR, JPY, GBP, CAD, SEK, and CHF, closed at 108.26, up 0.29 points from the trading session on January 22, 2025.
After falling sharply, the USD recovered slightly as investors continued to wait for detailed announcements on President Donald Trump's tax plans.
On January 21, President Trump shared that his administration is considering imposing a 10% tariff on Chinese goods starting February 1. He previously announced that he would impose a 25% tariff on goods from Mexico and Canada on that date. At the same time, Mr. Trump also mentioned imposing tariffs on European goods but did not provide further details.
Despite hitting a more than two-year high of 110.17 yen last week on tariff anticipation, the USD has shown significant signs of weakness.
“The market is due for a DXY correction. Market movements are highly dependent on expectations of Fed rate cuts and the differential between U.S. and other countries,” said Brad Bechtel, global head of FX at Jefferies in New York.
The DXY index rose 0.18% to 108.25, after hitting its lowest since Jan. 6 at 107.75 earlier in the session.
In contrast, the euro fell 0.08% to $1.0421. ECB policymakers on January 22 expressed support for further rate cuts, increasing the likelihood that the agency will do so next week.
Data from LSEG indicates that there is a 96% chance that the ECB will cut by at least 25 basis points at its upcoming policy meeting.
Shortly after his inauguration, President Trump signed a memorandum requiring federal agencies to conduct a comprehensive review of trade issues, with a deadline of April 1. This is seen as a key date for revealing tariff plans.
Meanwhile, the USD/JPY rose 0.66% in the last session to 156.50. The market is now predicting an 88.3% chance that the Bank of Japan will raise its interest rate by at least 25 basis points at its meeting on January 24.
The pound fell 0.22% to $1.2327 after the UK's statistics office said the country suffered a larger-than-expected budget deficit in December.
The Canadian dollar fell 0.33% to $1.44 CAD/USD. Earlier on January 21, the CAD hit a five-year low of $1.4515 CAD after data showed inflation eased last month.
According to analysts at Deutsche Bank, the CAD/USD pair is considered one of the most heavily influenced currency pairs in global forex competitions.
Domestic USD exchange rate
In the domestic market, opening the trading session on January 23, the State Bank announced the central exchange rate VND/USD maintained at 24,341 VND.
The reference exchange rate at the State Bank of Vietnam remains unchanged, keeping the buying and selling rates at VND23,400 and VND25,450, respectively.
At Vietcombank, the USD exchange rate was recorded at 24,930 - 25,320 VND/USD, down 130 VND in both buying and selling compared to the previous day.
VietBank listed the lowest USD cash purchase price: 1 USD = 23,600 VND, while the lowest transfer purchase price is 23,620 VND.
LPBank and OceanBank are buying USD cash at the highest price of 25,222 VND. VietinBank is buying USD transfers at the highest price of 25,549 VND.
TPB Bank is currently selling USD cash at the lowest price of 24,870 VND, while MSB sells USD transfers at the lowest price of 25,266 VND.
PVcomBank listed the highest USD cash selling price, reaching 25,550 VND, while VIB recorded the highest USD transfer selling price at 25,525 VND.
The EUR exchange rate at the State Bank of Vietnam recorded a slight increase, currently fluctuating from VND 24,087 (buy) to VND 26,623 (sell).
For the Japanese yen, the exchange rate at the State Bank of Vietnam also increased slightly, currently fluctuating at 149 VND - 164 VND.
Viet Anh (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-23-1-2025-usd-phuc-hoi-nhe-sau-chuoi-ngay-giam/20250123083427274
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