Optimistic about USD's rise

Foreign exchange rates, USD/VND exchange rate today, January 6, recorded a positive outlook, close to the 109 mark.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: January 6, 2025 08:30 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,280	25,290	25,550
EUR	EUR	25,619	25,722	26,816
GBP	GBP	30,923	31,047	32,004
HKD	HKD	3,208	3,221	3,325
CHF	CHF	27,384	27,494	28,341
JPY	JPY	158.20	158.84	165.64
AUD	AUD	15,505	15,567	16,072
SGD	SGD	18,282	18,355	18,861
THB	THB	721	724	755
CAD	CAD	17,371	17,441	17,934
NZD	NZD		14,021	14,506
KRW	KRW		16.62	18.31

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 9:00 a.m. on January 6, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,334 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 25,229 - 25,559 VND.

Vietinbank: 25,125 - 25,559 VND.

Foreign exchange rates, USD/VND exchange rate today, January 6: Optimistic about the USD's upward momentum. (Source: Newsmax)

Exchange rate developments in the world market

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 108.92.

The DXY index rose about 7% in 2024 and ended the year on a high note. The greenback accelerated in the final quarter, before and after the US presidential election. The index ended 2024 at 108.4.

The outlook for the DXY is positive in 2025. The greenback could maintain the growth momentum achieved in the final quarter of last year at least until the first half of 2025. In particular, concerns about US tariff policies could help the DXY index gain its safe-haven status. Concerns about high inflation following the tariff war could also support the USD.

US interest rates have been a supportive factor for the USD this year. The US Federal Reserve (Fed) at its most recent meeting in December predicted a slower pace of rate cuts in 2025. In its economic forecast released in December, the Fed revealed the possibility of a total rate cut of 50 basis points this year.

In early September, the Fed forecast a total of 100 basis points of rate cuts in 2025. The inflation outlook for 2025 was also revised higher by the Fed in its recent forecast. Therefore, US interest rates may remain higher and may not decline at a faster pace than previously expected.

The outlook for the DXY index is bullish. The trend is up and the upside potential is strong. The index has been soaring over the past few weeks. It is likely to test the 110.50-111 level in the short term. After that, the index may have a short-term correction down to the 109-108 zone. However, the uptrend will continue to be maintained.

A fresh rally from around 108 could take the index above 111. If the DXY index rises above 111, the DXY index could reach 118-119 in the third quarter of this year. However, a rise above 119 may become more difficult.

The yield on the 10-year US Treasury note has risen well above 4% last year. Current resistance is at 4.7%. A break above this level could push yields to 5% initially, followed by 5.6% and even higher this year. Such a rise in yields would be very bullish for the DXY.

The outlook is bearish for the EUR. The EUR/USD pair has broken below the key support level of 1.0450. This reinforces the bearish trend.

There is a good chance that the EUR will move towards parity against the USD, possibly even falling below parity and testing the 0.98 mark on the downside in the coming months.

Looking at the bigger picture, there is a risk that the currency will also fall below 0.98. If that happens, the EUR could fall to the 0.95-0.93 zone this year.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-61-lac-quan-ve-da-tang-cua-usd-299781.html