Yen exchange rate suddenly cools down, dollar weakens

How much is 1 USD in VND today?

State Bank USD exchange rate is at 23,993 VND.

Vietcombank USD exchange rate is currently at 24,320 VND - 24,690 VND (buy - sell).

The Euro exchange rate is currently at 25,831 VND - 27,249 VND (buy - sell).

The current Japanese Yen exchange rate is 158.57 VND - 167.84 VND (buy - sell).

The current exchange rate of British Pound is 30,172 VND - 31,456 VND (buy - sell).

Today's Yuan exchange rate is at 3,338 VND - 3,481 VND (buy - sell).

USD price today

The US Dollar Index (DXY) measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), recording at 104.08 points.

China's move raised hopes of additional stimulus measures to boost global growth.

“If China’s economy picks up, it will be a drag on global growth. Then the dollar could be sold off and money could flow into emerging markets,” said Adam Button, a currency analyst at ForexLive.

Meanwhile, the yen rose but remained near 150.88 JPY/USD - an 11-week high, as investors focused on the possibility of monetary intervention by the Bank of Japan. The 150 JPY/USD exchange rate previously prompted the country to act to save the yen from a slide like in 2022. The pair is now at 150.04 JPY/USD. The yen has lost 7% of its value in 2024 alone.

The Australian dollar rose 0.20%. The AUD/USD pair is currently at 0.6550 after earlier hitting 0.6579 AUD/USD - the highest since February 2.

The market is temporarily ignoring the US CPI and PPI figures as the data may be revised and do not show new price pressures, which will prompt the US Federal Reserve to cut interest rates in the coming months.

“The CPI numbers seem to be more of a seasonally adjusted story than a rising inflation story,” said Button. “If central banks wait until inflation is pushed back, we could end up with a situation where assets are trapped and global growth is paralyzed.”

The Fed is set to release the minutes of its January 30-31 meeting. Markets will be watching for further policy cues from the Federal Reserve.

The dollar index fell 0.21% to 104.08. Earlier, the DXY hit 103.79 - its lowest level since February 2. The euro rose 0.25%. The EUR/USD exchange rate is currently at 1.0839 - its highest level since February 2.

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