USD exchange rate today (May 15): USD recovers slightly

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 0.07% to 101.02.

USD exchange rate today in the world

The US dollar edged up on Tuesday, recovering from an earlier decline as investors awaited fresh signs that global trade wars will continue to ease.

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

The DXY index started the week with a gain of more than 1% and hit a one-month high as the US and China reached a deal, temporarily cutting tariffs and easing concerns that a trade war between the world's two largest economies could lead to a global recession.

But the greenback fell in the following trading session, when the consumer price index came in below economists' expectations.

“Obviously everything is still pretty much trade-focused these days, that’s still the big catalyst driving everything,” said Brad Bechtel, global head of FX at Jefferies in New York.

“There is still a lot of volatility in the currency markets, but the greenback will still tend to rally and then turn back down.

In a reverse move, the EUR fell 0.06% to $1.1177.

Investors also analyzed the event that South Korean Vice Finance Minister Choi Ji-young met with Robert Kaproth, Deputy Assistant Secretary of the US Treasury Department, on May 5 to discuss the foreign exchange market, an event that pushed the dollar to a one-week low against the Korean won. The won rose 0.84% against the greenback in the last trading session, reaching 1,402.66. Against the Japanese yen, the dollar fell 0.52% to 146.71 after falling as much as 1.2% during the session.

With trade tensions easing, markets have reduced expectations that the US Federal Reserve will cut interest rates this year, pricing in a 74% chance of a first cut of at least 25 basis points at the central bank’s September meeting, according to LSEG data.

Several major brokerages, including Goldman Sachs, JPMorgan and Barclays, have recently scaled back their US recession forecasts and their views on Fed policy easing.

Chicago Fed President Austan Goolsbee said data showing moderate consumer inflation in April did not necessarily reflect the impact of increased U.S. import tariffs and the Fed still needed more data to determine the direction of prices and the economy.

Meanwhile, Fed Vice Chairman Philip Jefferson noted a similar view, saying recent inflation data showed good progress toward the central bank's 2% target, but the outlook is now uncertain due to the possibility that new import tariffs will push prices higher.

The pound fell 0.32% against the dollar to $1.3261. Bank of England rate setter Catherine Mann said she voted to keep interest rates unchanged last week, after seeking a sharp 50 basis point cut in February, because the UK labor market had recovered better than she expected.

USD exchange rate today, May 15: USD recovers slightly. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 15, the State Bank announced that the central exchange rate of the Vietnamese Dong against the USD remained unchanged, currently at 24,973 VND.

* The reference exchange rate at the State Bank's transaction office remains unchanged, currently at: 23,775 VND - 26,171 VND.

USD exchange rates at commercial banks are as follows: