In the last trading session of the year, banks increased the USD price by 120 VND. Eximbank bought at 24,070 - 24,150 VND, sold at 24,630 VND; Vietcombank bought at 24,200 - 24,230 VND, sold at 24,570 VND... The free USD price increased by 60 VND, bought at 24,820 VND, sold at 24,880 VND.
USD price increases near Tet
Gold fluctuations on February 8: USD price today
The USD price in the international market decreased slightly after reaching a high, the USD-Index decreased by 0.1 points to 104.1 points. The greenback's upward momentum returned when positive data and signals from US Federal Reserve (Fed) officials about cutting interest rates in the near future. The market reduced bets on the Fed cutting interest rates in March. According to the FedWatch tool of CME Group, traders are now predicting an 18.5% chance of the Fed cutting interest rates in March, up from 14.5% at the beginning of the week, and down from 68.1% at the beginning of the year.
"The greenback's rally has gone quite far, quite fast, and is almost breaking through some resistance," said Brad Bechtel, global head of FX at Jefferies in New York. "The financial markets are in the process of recalibrating their expectations for Fed policy. If positive economic data, especially on inflation, persists in the US, the market could shift to expecting the Fed to cut rates sooner, which could weaken the greenback further," said James Kniveton, senior FX trader at Convera.
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