On the morning of March 31, the USD price at commercial banks recorded a week of increase. For example, Vietcombank bought at 24,600 VND and sold at 24,970 VND, up 20 VND compared to the end of last week. Similarly, Eximbank increased by 40 VND after a week, bringing the buying price to 24,580 VND and selling at 24,970 VND...
The yen also slightly increased again after a sharp decline after the Bank of Japan raised interest rates to 0% - 0.1% and ended the era of negative interest rates that began in 2016. For example, Vietcombank bought at 158.93 VND and sold at 168.22 VND, 0.23 - 0.25 VND higher than last weekend. The euro price continued to decrease, with Vietcombank buying at 26,020 VND and selling at 27,447 VND, down 92 - 95 VND after a week...
USD price continues to record a week of increase
The world USD price continued to increase when the USD-Index reached 104.27 points, 0.23 points higher than the end of last week. Last week, the US Federal Reserve (Fed) announced to keep interest rates unchanged but also maintained the view that there would be 3 cuts this year.
However, some analysts believe that if inflation continues to persist, the US central bank will not rule out the possibility of reducing the number of interest rate cuts. On March 29, the US Commerce Department said that the core personal consumption expenditures (PCE) price index increased 0.3% in February. This result was in line with the expectations of economists. The report also said that headline inflation increased 0.3% last month, slightly lower than expected. Although declining, inflation is still above the Fed's 2% target.
Fed Governor Christopher Waller said midweek that recent disappointing inflation data has confirmed the central bank's ability to delay cutting its short-term interest rate target.
According to CME Group's FedWatch tool, investors predict a 64% probability that the Fed will start cutting interest rates in June, down from 70% last week.
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