Morning of May 13: Central exchange rate increased by 28 VND

The US dollar gained significantly against most major currencies after the US and China announced an interim trade deal over the weekend.

According to the joint statement between the US and China, before May 14, the US will temporarily lower the tax rate on Chinese goods from 145% to 30%, while China will also reduce the import tax on US goods from 125% to 10%.

In addition, the two sides agreed to establish a regular dialogue mechanism on economic and trade issues, co-chaired by Chinese Vice Premier He Lifeng, US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.

The move helped ease concerns about a protracted trade war between the world's two largest economies, while boosting positive sentiment in global financial markets.

Notably, the Japanese yen and Swiss franc came under strong downward pressure, losing 2.1% and 1.6% respectively in the previous session, before recovering slightly.

The yen is currently trading at 147.99 yen per dollar, up 0.32%.

Similarly, the Swiss franc rose 0.19% to $0.8440.

The euro rose 0.16% to $1.1105 after losing 1.4% in the previous session.

The pound rose 0.03% to $1.3180 after falling 1% in the previous session.

In the Asia- Pacific region, the Australian dollar and the New Zealand dollar fell 0.06% and 0.02% against the greenback, currently trading at $0.6368 and $0.5854, respectively. The two currencies remained around their two-week and one-month lows.

The dollar’s ​​rise was also accompanied by positive developments in the US bond market. The yield on the 2-year government bond maintained a one-month high of 3.9977%, while the yield on the 10-year government bond hit a recent high of 4.4551%.

The interim trade deal between Washington and Beijing has dampened expectations of an early interest rate cut by the Federal Reserve, with markets now pricing in only about 56 basis points of rate cuts by the end of the year.

“The Fed has focused on the growing uncertainty,” said David Doyle, chief economist at Macquarie. “This new agreement may help remove some of the downside risks that were raised if higher tariffs remained in place.”

Source: https://thoibaonganhang.vn/sang-135-ty-gia-trung-tam-tang-28-dong-164062.html