USD exchange rate today (May 16): USD turns down after data...

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) decreased by 0.23% to 100.81.

USD exchange rate today in the world

The US dollar fell in the last trading session, following a series of economic data, including retail spending slowing in April, as the uncertain economic outlook weighed on investor sentiment.

Accordingly, the US Department of Commerce said that retail sales increased slightly by 0.1% last month after increasing by 1.7% in March.

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

The increase in March was partly due to accelerated purchases of items such as cars ahead of US President Donald Trump's April 2 tariff announcement.

In a separate report, the Labor Department said its producer price index (PPI) fell 0.5% in April. The index was dragged down by a drop in demand for air travel and hotel accommodation due to Mr Trump’s trade policies.

However, other data from the US Labor Department showed weekly initial jobless claims held steady at 229,000, in line with economists' expectations in a Reuters poll, although job creation was more limited.

The DXY index fell 0.23% to 100.81, after falling as much as 0.43% during the session, while the EUR rose 0.02% to $1.1176.

The greenback started the week with a gain of more than 1%, after the US and China announced a 90-day pause on most tariffs imposed on each other's goods since early April, easing fears of a global recession.

Amid signs of easing trade tensions, markets have reduced expectations that the US Federal Reserve will cut interest rates this year, pricing in a 75.4% chance of a first cut of at least 25 basis points at the central bank’s September meeting, according to LSEG data. The previous view was for a cut in July.

Recent comments from Fed officials suggest the central bank needs more data to determine the impact of tariff announcements on prices and the U.S. economy before adjusting policy.

In comments on May 15, Fed Chairman Jerome Powell did not focus on monetary policy or the economic outlook, but said central bank officials believe key factors around employment and inflation need to be revisited in their approach to monetary policy.

Federal Reserve Governor Michael Barr said the economy is solid with inflation moving toward the central bank's 2% target, but trade policies have increased uncertainty about the future economic outlook.

Against the Japanese yen, the US dollar weakened 0.73% to 145.68 while the British pound gained 0.23% to 1.329 USD after the UK economy grew stronger than expected in early 2025.

As trade tensions appeared to have temporarily eased, several major brokerages, including Goldman Sachs, JPMorgan and Barclays, scaled back their forecasts for a US recession and their views on Fed policy easing this week.

USD exchange rate today, May 16: USD turns down after economic data. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 16, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 3 VND, currently at 24,970 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,772 VND - 26,168 VND.

USD exchange rates at commercial banks are as follows: