On the morning of May 14.5, the USD price at commercial banks recorded an upward week. For example, Eximbank bought 23.230 dong, sold 23.610 dong, up 10 dong compared to last week. Similarly, Vietcombank increased by 20 dong in both directions, bringing the buying price to 23.270 dong and selling it to 23.640 dong... The free USD price traded at 23.415 - 23.465 dong, increasing by 10 - 15 dong after a week.
On the contrary, the euro price ended the week down like Eximbank decreased by 132-238 dong, bringing the buying price down to 25.249 dong, selling price down to 25.937 dong.
USD price on the morning of 14.5 recorded a week of gains
The international USD price increased continuously during the week and the USD-Index reached 102 points, up 68 points compared to the end of last week. The greenback surged against many other currencies for the week as investors increased their safe-haven options following a spate of unsatisfactory economic data. Although many reports show that inflation in the US is cooling down, it is still high. That makes many people think that it is possible that the US Federal Reserve (Fed) will not be able to cut interest rates.
According to the CME FedWatch Tool, the market is pricing in a 98% chance that the Fed will leave rates unchanged at its June meeting but has already begun pricing in a deep rate cut later this year. Interest rate futures indicate traders' expectations that the Fed will begin cutting in September.
On May 11.5, Minneapolis Federal Reserve President Neel Kashkari said an extended period of high interest rates and an inverted yield curve could put additional strain on the banking system, but would be necessary if inflation were to occur. output is still high.
Over the past week, the Bank of England also raised its key interest rate by a quarter of a percentage point to 4,5% and Governor Andrew Bailey said the Bank of England would be "on the right track" as it sought to rein in it. the highest inflation of any major economy. According to the results of a poll from analysts of Reuters, US Treasury yields will increase significantly next month.
