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LFHCK a.k.a LiFeHaCK

Dollar Rises Against the Dong

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The American currency slightly increased compared to the Vietnamese đồng during early Wednesday, moving upward relative to other currencies.

Vietcombank offered the currency at VND26,536, an increase of 0.02% compared to Tuesday. The US dollar rose by 0.53% to approximately VND26,720 in the unofficial market.

The Central Bank of Vietnam maintained its benchmark rate at VND25,273.

Around the world, the dollar index increased approximately 0.2% compared to its competitors on Wednesday,
Reuters
reported.

The dollar rose slightly to 98.27 against a currency basket, following a decline of 0.24% in the prior session.

The euro reached $1.1636, whereas the yen remained stable at 147.6 per dollar. The pound also saw minimal movement, trading at $1.3478.

Since President Donald Trump announced on Monday the dismissal of Federal Reserve Governor Lisa Cook, the U.S. Treasury yield curve has shown signs of steepening. This unusual action may result in a legal dispute, as Cook’s attorney mentioned her intention to take legal steps to challenge the decision.

“It’s the most recent move in the Federal Reserve conflicts, highlighting just how much political influence is creeping into the central bank,” stated Neil Wilson, UK investment strategist at Saxo, referencing Trump’s effort to dismiss Cook.

It will be nearly impossible for the upcoming chairman to act outside of Trump’s influence. This situation could negatively impact the dollar. The main concern for the market at this moment is the September gathering, but make no mistake — we’re experiencing a transformation similar to what hasn’t been observed in many years.

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