Morning of November 6: Central exchange rate increased by 3 VND

According to a survey by thoibaonganhang.vn, as of 9am this morning (November 6), the central exchange rate increased by 3 VND compared to the previous session. The USD buying and selling prices at all commercial banks were adjusted to increase with a common amplitude of 2-4 VND compared to the previous session.

The dollar traded slightly below multi-month highs hit in the previous session, as increased demand for risk assets pulled the greenback off recent highs. Meanwhile, the pound remained under pressure ahead of a Bank of England policy meeting, with investors anticipating a dovish tone.

The euro is currently trading at $1.1507, up 0.13%, slightly above a three-month low of $1.1469 hit on Tuesday.

The Australian and New Zealand dollars, the two most volatile currencies yesterday, benefited from a recovery in stock markets as the tech sell-off eased.

The Australian dollar rose 0.3% to $0.6508, bouncing off its 200-day moving average.

The New Zealand dollar also recovered from a seven-month low, reaching $0.5665.

The gains in these currencies came despite a sharp rise in US Treasury yields, after the US Treasury Department signaled it would step up bond sales, along with positive labor data released.

“The market is now more sensitive to improvements in risk appetite,” said Rodrigo Catril, senior currency strategist at National Australia Bank (NAB) in Sydney.

However, according to him, for the USD to fall deeply and sustainably, there needs to be clearer economic data from the US - which is currently not possible due to the federal government shutdown that has interrupted the release of data.

“The dollar still performs better than the yen or the euro,” Mr. Catril added, referring to the higher yields on U.S. government bonds. “The gravity is still tilted toward the dollar at the moment.”

In Asia, the Japanese yen rose 0.15% to 153.89 yen per dollar.

For the pound, investors are closely watching the upcoming Bank of England (BoE) policy meeting. While the chances of the BoE cutting interest rates from the current 4% are low, the policy committee is divided and the decision is expected to be a close one. Analysts say that even if the BoE keeps rates unchanged, the accompanying message is likely to be dovish, hinting at a cut early next year.

The pound is currently trading at $1.3962, up 0.09%, after falling to $1.3011 - a seven-month low - last night.

“There is little chance of a pound rally at this stage. Even if they don’t cut, they will likely signal that it is coming,” said Rodrigo Catril, an expert.

If the pound falls below $1.30, it could drop to April's low of $1.2712.

Source: https://thoibaonganhang.vn/sang-611-ty-gia-trung-tam-tang-3-dong-173153.html