USD exchange rate today (June 17): USD slightly recovers

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.18%, reaching 102.30.

USD exchange rate in the world today

The US dollar rose again, while the Japanese yen fell after the Bank of Japan (BOJ) decided to maintain its ultra-low interest rate policy, while forecasting that inflation would slow later this year.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

Accordingly, the USD has fallen to a 15-year low against the Euro.

As widely expected, the BOJ maintained its short-term interest rate target of -0.1% and the 0% cap on 10-year bond yields set under its yield curve control (YCC) policy. The yen fell sharply following the decision, hitting a fresh 15-year low of 155.22 per euro, and is set to post its biggest weekly decline against the euro in three years. The euro was up 1.1 at 155.16 yen, while the dollar rose 1.1% against the Japanese currency to 141.795, after hitting its highest since November.

The US Federal Reserve (Fed) decided to keep interest rates unchanged at its June policy meeting, ending a streak of 10 consecutive rate hikes, but the Fed also signaled that it may need to raise rates another 50 basis points by the end of the year. However, recent data showing slowing US economic activity and cooling inflation have challenged the Fed's hawkish stance.

Data released on June 16 showed that falling inflation expectations helped improve US consumer sentiment to a four-month high in June.

“I don’t think there will be another rate hike after July, but the first rate cut will be in December,” said Vassili Serebriakov, a foreign exchange strategist at UBS in New York. “Besides, I think the economy will slow down significantly in the second half of the year.”

Meanwhile, the euro was poised for its best week against the dollar after the European Central Bank (ECB) raised borrowing costs to a 22-year high and hinted at further tightening. The ECB's policy decision came a day after the Fed paused its rate hikes. ECB President Christine Lagarde told a news conference that another rate hike in July was likely to be in order to prevent inflation from rising.

The pound rose 0.4% to $1.2831 after rising to its highest since April 2022, as traders bet the Bank of England will raise interest rates at its 13th straight meeting next week.

USD exchange rate today (June 17): USD slightly recovered. Illustration photo: Reuters

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on June 16, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 7 VND, currently at: 23,711 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,400 VND - 24,846 VND.

USD exchange rates at commercial banks are as follows: