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Dollar slips against dong

The U.S. dollar fell against the Vietnamese dong Thursday morning.

Dollar slips against dong

Vietcombank sold the dollar at VND23,610 Thursday, down 0.06% from Wednesday.

Techcombank lowered its rate by 0.14% to VND23,590.

Eximbank maintained the greenback at VND23,600.

The State Bank of Vietnam (SBV)’s reference rate is at VND23,672, up 0.07%.

The dollar fell 0.09% to VND23,450 on the black market.

It has declined by 0.51% against the dong since the beginning of the year.

Globally the U.S. dollar held near a seven-week peak on Thursday, after President Joe Biden and top U.S. congressional Republican Kevin McCarthy worked towards avoiding a damaging debt default, while the Aussie dollar slipped after disappointing jobs data.

Biden and McCarthy on Wednesday underscored their determination to strike a deal soon to raise the government’s $31.4 trillion debt ceiling, having agreed a day earlier to negotiate directly after a months-long standoff.

The euro was pressured near an over six-week low at $1.0841. The single currency had bottomed at $1.08105 on Wednesday, its lowest since April 3.

The Japanese yen last bought 137.50 per dollar, having fallen nearly 1% on Wednesday.

“The dollar typically falls in the lead up to the debt ceiling being reached … so I think the dollar gains overnight were partly an unwinding of previous falls driven by concerns about a U.S. default,” said Carol Kong, a currency strategist at Commonwealth Bank of Australia.

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