The American currency declined versus the Vietnamese đồng during early Monday, while rising against key counterparts.
Vietcombank offered the US dollar at an all-time high of VND26,480, declining by 0.15% during the weekend.
The currency has shed much of its recent gains after hitting record levels last week, reaching VND26,562. In the unofficial market, the dollar remained stable near VND26,648.
Around the world, the U.S. dollar tried on Monday to recover from a four-week trough against the euro following a softening stance from Federal Reserve Chairman Jerome Powell, which caused it to drop over 1%.
Reuters
reported.
The U.S. Dollar Index increased by 0.2% compared to its competitors. The dollar climbed 0.2% to reach $1.1699 per euro at the start of the Asian trading session, yet stayed close to Friday’s minimum of $1.174225, which was the lowest point since July 28.
It increased by 0.1% to $1.3502 against the pound after falling 0.8% in the previous session. It gained 0.4% to reach 147.46 yen, recovering some of the 1% decline from Friday.
The risk-averse Australian dollar temporarily reached a one-week peak of $0.6523 on Monday, then retreated to close just below at $0.6484. During the prior trading day, it increased by 1.1%.
In a highly anticipated address at the Federal Reserve’s annual Jackson Hole conference on Friday, Powell signaled openness to reducing interest rates during the central bank’s upcoming September gathering.
In response to Chair Powell’s speech at Jackson Hole, which met the market’s minimal expectations for a dovish stance after consistent declines in Federal Reserve rate-cut projections,” noted Goldman Sachs analysts in a report sent to clients. “The speed and extent of future reductions will depend on incoming economic data.
