The USD Index (DXY), which measures the greenback's performance against six major currencies, currently stands at 102.87.

Forecast of USD trend this week

The DXY index may remain within a certain range, before the data on the US Personal Consumption Expenditures (PCE) Index - the US Federal Reserve's inflation measure - is released on June 30.

Chart of DXY Index fluctuations over the past week. Photo: Marketwatch.

In testimony before the US Congress earlier this week, Fed Chairman Jerome Powell reiterated the central bank’s “hawkish” stance on interest rate policy in the coming period. He also emphasized that, although inflation remains far from the Fed’s target, the Fed may still need to raise interest rates further but at a “more cautious pace.”

The Core PCE Price Index for May is forecast to remain unchanged at 4.7% year-over-year, while the PCE Price Index is expected to decline from 4.4% in April to 3.8% in May.

Over the past week, the DXY Index has held well above the key support level of 102, trading in a range of 102-103. Any break above the resistance level of 102.50-103.25 could establish an uptrend for the greenback. Conversely, if the index falls below 102, it could fall straight to the 101-100.50 zone in the coming days, establishing a short-term bearish bias.

Elsewhere, the Euro saw a slight decline last week, falling below the key 1.09 level, but still holding firm in the 1.0870-1.0850 support zone. If the currency can hold well in this support zone, the short-term outlook will be bullish, even aiming straight for the 1.11-1.1135 target in the coming weeks.

USD exchange rate today June 26: USD needs more momentum to maintain its upward momentum. Illustration photo: Reuters.

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on June 23, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD unchanged, currently at: 23,732 VND.

* The reference exchange rate at the State Bank's transaction office remains unchanged, currently at: 23,400 VND - 24,868 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate

Buy

Sell

Vietcombank

23.30 VND

23,690 VND

Vietinbank

23,315 VND

23,735 VND

BIDV

23,371 VND

23,671 VND

* The Euro exchange rate at the State Bank's exchange office for buying and selling slightly decreased to: 24,698 VND - 27,298 VND.

Euro exchange rates at commercial banks are as follows:

Euro exchange rate

Buy

Sell

Vietcombank

25,154 VND

26,297 VND

Vietinbank

24,762 VND

26,052 VND

BIDV

25,279 VND

26,419 VND

MINH ANH