USD under pressure after hearing news about Kamala Harris

Foreign exchange rates, USD/VND exchange rate today, September 12, recorded mixed USD fluctuations after data showed that core inflation in the US increased in August.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 09/12/2024 08:27 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	15,971.67	16,133.00	16,651.47
CANADIAN DOLLAR	CAD	17,626.21	17,804.25	18,376.43
SWISS FRANC	CHF	28,042.44	28,325.70	29,236.01
YUAN RENMINBI	CNY	3,377.38	3,411.50	3,521.66
DANISH KRONE	DKK	-	3,554.39	3,690.70
EURO	EUR	26,329.22	26,595.17	27,774.39
Sterling Pound	GBP	31,177.89	31,492.82	32,504.91
HONGKONG DOLLAR	HKD	3,068.28	3,099.27	3,198.87
INDIAN RUPEE	INR	-	291.48	303.15
YEN	JPY	166.64	168.33	176.38
KOREAN WON	KRW	15.85	17.61	19.21
KUWAITIAN DINAR	KWD	-	80,108.11	83,315.25
MALAYSIAN RINGGIT	MYR	-	5,603.86	5,726.39
NORWEGIAN KRONER	NOK	-	2,213.95	2,308.07
RUSSIAN RUBLE	RUB	-	255.12	282.44
SAUDI RIAL	SAR	-	6,523.75	6,784.93
SWEDISH KRONA	SEK	-	2,314.50	2,412.90
SINGAPORE DOLLAR	SGD	18,333.96	18,519.15	19,114.30
THAILAND	THB	641.81	713.12	740.47
US DOLLAR	USD	24,350.00	24,380.00	24,720.00

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:45 a.m. on September 12, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,212 VND, an increase of 18 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,335 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 24,455 VND - 24,720 VND.

Vietinbank : 24,220 VND - 24,720 VND.

Foreign exchange rates, USD/VND exchange rate today, September 12: USD under pressure when 'hearing news' about Ms. Kamala Harris. (Source: Vietnamnet)

Exchange rate developments in the world market

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 101.72, up 0.09%.

The US dollar was mixed after data showed core inflation in the world's largest economy rose in August.

The data reinforced expectations that the US Federal Reserve (Fed) could cut interest rates by 25 basis points next week.

The greenback posted gains against the Swiss franc, British pound and Japanese yen, but fell against the euro.

Earlier in the session, the US dollar was under pressure as investors bet on Democratic Vice President Kamala Harris defeating Republican Donald Trump in the US presidential election on November 5 following a televised debate between the two candidates on September 11 (local time).

In addition, newly released data showed that the US consumer price index (CPI) increased by 0.2% in August, corresponding to the increase in July.

In the 12 months through August, the CPI rose 2.5%, the smallest annual increase since February 2021 and down from July's 2.9% gain.

“This significantly reduces the likelihood of a 50 basis point rate cut next week,” said Ben McMillan, principal and chief investment officer at IDX Insights in Tampa, Florida.

With inflation data and the possibility of a 25 basis point Fed rate cut, the US dollar could recover in September before losing value later this year and into 2025, according to Vassili Serebriakov, a foreign exchange strategist at UBS in New York.

“The fact that we think the Fed will only cut 25 basis points instead of 50 basis points, the USD could have a bit of a corrective recovery, and start to weaken again by the end of the year and then into 2025,” he stressed.

In afternoon trade, the dollar rose 0.54 percent against the Swiss franc to 0.85155 franc, after hitting a three-week high of 0.8544 following the inflation report.

The British pound fell 0.27% against the dollar to $1.3044.

The dollar hit an intraday high of 142.55 yen after the CPI data, before falling 0.16% to 142.23.

Interest rate futures markets are now pricing in a 13% chance of a 50 basis point Fed rate cut at its September 17-18 meeting, down from around 33% on September 10, according to LSEG calculations.

The data shows an 87% chance of a 25 basis point rate cut next week, while the market still prices a total of about 100 basis points of cuts this year.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-129-dong-usd-chiu-ap-luc-khi-nghe-tin-ve-ba-kamala-harris-285887.html