Morning of April 11: Central exchange rate turns down again

The greenback fell sharply as confidence in the US economy collapsed, prompting investors to dump dollars in search of safe havens such as the Japanese yen, Swiss franc, euro and gold.

The US dollar index (DXY) fell as much as 1.2%, falling below 100 - its lowest level since July 2023, reflecting a wave of risk aversion after President Donald Trump's uncertain tariff policy.

Against the yen, the USD fell 0.57% to 143.63 yen per dollar.

Similarly, against the Swiss franc, the USD fell 0.36% to 0.8211 francs per dollar.

New data showed that US inflation cooled sharply in March, reflecting the economy’s strength and resilience ahead of a series of tough trade measures that President Donald Trump is set to implement.

This news should raise hopes that the cost of living for Americans is no longer rising, but the Consumer Price Index (CPI) report released today may be another example of “what could have been” for the US economy.

Specifically, the March CPI showed that inflation in the US had dropped to 2.4% compared to the same period last year, from 2.8% in February, right at the time when global economies, businesses, markets and consumers were preparing to cope with the strongest US import tax increase in more than 100 years.

Many economists warn that this CPI data could be the bottom of inflation this year, as the Trump administration's large-scale and comprehensive tariffs threaten to upend the global trade order, making imports more expensive and causing prices of consumer products to rise sharply.

US President Donald Trump postponed reciprocal tariffs with many countries for 90 days, keeping the basic rate at 10%, but increased tariffs with China, escalating tensions with Beijing.

The offshore yuan fell 0.2 percent to 7.2957 yuan per dollar, after hitting a record low earlier in the week and rebounding sharply on Thursday.

“There has been a clear wave of USD selling as the currency loses its appeal. This is consistent with repatriation from foreign entities, as systemic risk increases and capital is withdrawn from the US, the focal point of market uncertainty,” said Chris Weston of Pepperstone. The weaker USD/CNH pair reinforces this trend.

Wall Street stocks plunged overnight, reversing a rally on Wednesday after Donald Trump’s announcement that tariffs would be delayed. Ten-year Treasury notes sold off sharply, sending yields up by the biggest weekly change since 2001.

The euro rose 0.81% to $1.1292.

The British pound rose 0.35% to $1.3016.

The Canadian dollar traded at C$1.3943 per U.S. dollar, down 0.29%.

The Australian dollar rose 0.19% to $0.6236.

New Zealand dollar rose sharply by 2.29% to $0.5772

Since returning to the White House in January, Donald Trump has repeatedly threatened a range of sanctions against trading partners. But his erratic approach — threatening tariffs and then backing out at the last minute — has confounded global and business leaders and made economic forecasting impossible.

Source: https://thoibaonganhang.vn/sang-114-ty-gia-trung-tam-quay-dau-giam-tro-lai-162608.html