Increased compared to last weekend

On the morning of May 21, the USD price at commercial banks recorded a week of increase. For example, Eximbank bought at 23,240 VND and sold at 23,620 VND, up 10 VND compared to the end of last week. Similarly, Vietcombank increased by 20 VND in both directions, bringing the buying price to 23,290 VND and the selling price to 23,660 VND...

On the contrary, the euro price ended the week down, with Eximbank decreasing by 313 - 322 VND, bringing the buying price down to 24,936 VND and the selling price down to 25,615 VND.

USD price has a week of increase

The international USD price decreased slightly at the end of the week when the USD-Index fell to 103.21 points. Compared to the end of last week, the USD-Index increased by 0.53 points. The USD price remained near the highest level in the past 2 months thanks to strong US labor data and optimism that the world's largest economy can avoid bankruptcy. The number of benefits announced on May 18 showed that the labor market is still tight with the number of Americans applying for new unemployment benefits falling more than expected. This has led many to believe that the US Federal Reserve (Fed) may maintain a tight monetary policy for a longer period of time.

Several Fed officials this week expressed concern that U.S. inflation is not cooling fast enough to allow the central bank to pause its rate-hike cycle in June. Still, Fed Chairman Jerome Powell said in remarks at a monetary conference in Washington that banking troubles could keep policymakers from having to raise interest rates too much to keep inflation in check. But he noted that the crisis at Silicon Valley Bank and other regional banks could weigh on the economy.

Currently, financial markets predict that the Fed will pause its rate hikes at its June meeting. However, investor sentiment is also very volatile, as Fed officials are still considering the impact of the policy on inflation. At the meeting in early May, the Fed raised its benchmark interest rate to a range of 5 - 5.25%, from near zero more than 2 years ago...

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