USD exchange rate today (May 13): USD increases sharply after US-China agreement - Lang Son Newspaper and Radio and Television

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 1.44% to 101.78.

USD exchange rate today in the world

The dollar rose sharply in the last trading session, as the US and China reached a temporary agreement to cut tariffs on each other's goods and eased concerns that a trade war between the world's two largest economies could lead to a global recession.

Specifically, the US reduced tariffs on Chinese goods from 145% to 30% within 90 days. In return, China reduced tariffs on US goods from 125% to 10% within the same period.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

Speaking to reporters in Geneva, US Treasury Secretary Scott Bessent also announced that the two countries had reached an agreement to reduce reciprocal tariffs by 115% within 90 days.

The DXY index increased sharply, at one point reaching 101.91, while the EUR decreased by 1.54%, to 1.1074 USD and was on track for its biggest one-day decline since November 6.

Risk sentiment boosted U.S. stocks and weighed on safe-haven currencies, pushing the dollar up 2.19 percent against the Japanese yen to 148.50 after touching 148.64, its highest since April 3.

Against the Swiss franc, the US dollar rose 1.86% to 0.847, after hitting 0.8475, its highest level since April 10.

The pound weakened, down 1.07% to $1.3162 and was on track for its biggest one-day drop since April 7.

While the greenback has rallied for three straight weeks on growing optimism about potential trade deals, the dollar is still down 2.2% since April 2, after US President Donald Trump announced sweeping tariffs.

This week, the market is looking forward to the US Consumer Price Index (CPI) data to be released today, May 13, and April retail sales, scheduled for release on May 15, to learn about the impact of global trade conflicts on the economy and expectations that the US Federal Reserve (Fed) will continue to cut interest rates.

Traders have reduced expectations for rate cuts by the Fed and the European Central Bank as the economic outlook improves following the Sino-U.S. trade deal. Markets are now betting the first cut by at least 25 basis points from the Fed is likely to come at the central bank’s September policy meeting, later than July, which was expected last week.

Analysts at Wells Fargo said the deal supports the firm's short-term view of dollar strength, reinforced by the Fed's slow pace of rate cuts.

The Chinese yuan rose 0.52% against the greenback to 7.201. Meanwhile, geopolitical tensions also appeared to ease over the weekend, further boosting appetite for risk assets.

Tensions between the two South Asian neighbors, India and Pakistan, have temporarily eased after a ceasefire was announced on the evening of May 10 (local time), ending a series of days of escalating conflict with airstrikes, artillery shelling and drone attacks.

USD exchange rate today, May 13: USD increased sharply after the US-China agreement. Photo: Reuters

USD exchange rate today domestic

In the domestic market, at the beginning of the trading session on May 13, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 6 VND, currently at 24,945 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,748 VND - 26,142 VND.

USD exchange rate at commercial banks buy and sell as follows: