Foreign exchange rates today, May 11: USD continues to increase this week

World currency exchange rates

The US dollar fell 0.25% to 99.78 in early trading on Monday as markets weighed continued uncertainty from US President Donald Trump's tariff policies and their impact on the economy .

The market has been affected by the fact that President Donald Trump has not backed away from his stance that tariffs are important, said Juan Perez, director of trading at Monex USA in Washington.

Mr Trump said he would not try to fire Federal Reserve Chairman Jerome Powell, but repeated his call for lower interest rates and called Powell a “tough guy”.

Foreign exchange rate today 115 USD continues to increase this week

On May 7, the greenback continued to fall 0.44% to 99.40 due to concerns about trade agreements.

Investors are awaiting details on trade deals that the Trump administration said it was negotiating with other countries, including China. Trump said over the weekend that some deals would be announced this week. The Canadian dollar rose after Canadian Prime Minister Mark Carney met with President Donald Trump during a visit to the White House on May 6. The Canadian dollar rose 0.39% against the dollar to $1.38.

The greenback rose 0.63% to 99.87 on May 8 after the Fed decided to keep interest rates unchanged, in line with market expectations. The Fed kept its benchmark interest rate unchanged at 4.25% - 4.50%, but said inflation and unemployment risks were rising, while the US economic outlook remained uncertain. Marvin Loh, senior global market strategist at State Street in Boston, said the Fed was a bit more hawkish than the market expected.

The DXY index continued to rise by 1.02% to 100.63 on May 9 as the market eased concerns about the bilateral trade deal between the US and the UK, while the pound reversed gains made after the Bank of England cut interest rates. Specifically, the US President announced a “breakthrough” trade deal with the UK on May 8, which will maintain the basic 10% tariff on UK imports, including vehicles. The market viewed the trade deal as positive and it could serve as a template for other countries looking to sign trade agreements with the US.

The dollar ended the week down 0.22% at 100.42, but was on track to gain against major currencies, including the Swiss franc, Japanese yen and euro, after the US-UK trade deal raised optimism about upcoming US-China talks.

Matthew Weller, director of market research at StoneX, said the market was optimistic about progress in the US-China trade talks and more trade deals in general. Central bank decisions this week were mixed, with the US Federal Reserve leaving interest rates unchanged, while the Bank of England cut rates. The central banks of Sweden and Norway decided to keep rates unchanged.

In contrast to other G10 currencies, the US dollar fell against some Asian currencies this week. The greenback weakened 0.02% to 7.241 against the Chinese yuan.

Domestic foreign exchange rates

In the domestic market, at the beginning of the trading session on May 11, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 5 VND this week, currently at 24,951 VND.

* The reference exchange rate at the State Bank's transaction office increased slightly, currently at: 23,754 VND - 26,148 VND.

USD exchange rates at some commercial banks are as follows: