USD exchange rate today (May 22): USD slips below 100 mark

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 0.43% to 99.69.

USD exchange rate today in the world

The US dollar fell against a basket of currencies in the last trading session, hit by concerns about US President Donald Trump's tax and spending cuts and border security bill.

During a nearly two-hour meeting at the Capitol, President Trump sent a direct message to House Republicans, urging them to stop infighting and support the bill.

However, no Democrats are expected to support the bill, while some Republican lawmakers also took issue with the size and scope of the massive 1,116-page plan.

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

The greenback extended losses against major currencies such as the euro and the yen after a light sale of $16 billion in 20-year bonds. The bonds were priced at a record 5.047 percent, above the expected yield at the time of the auction.

In afternoon trading, the euro rose 0.4 percent against the dollar to $1.1334, after hitting a two-week high.

Developments in Donald Trump’s global tariff war, which has shaken currencies in recent months, slowed significantly this week as a 90-day reprieve from tariffs imposed on US trading partners came to an end without a new deal.

While markets remain optimistic that the White House wants to push trade back in a sustainable manner, talks with close allies Japan and South Korea have yet to yield concrete results.

The dollar fell 0.6 percent against the Japanese yen to 143.62 yen. The yield on 30-year Japanese government bonds jumped to a new record on May 21.

"Higher Japanese bond yields, which helped narrow the gap with US Treasuries, reduced the incentive to hold the US dollar," said Forex.com analyst Fawad Razaqzada.

The yen, along with safe-haven assets such as the Swiss franc and gold, also rose after CNN reported on May 20 that new intelligence gathered by the US showed that Israel was preparing to attack Iran's nuclear facilities.

Investors are also looking ahead to talks between the United States and Japan later this week. Ahead of a meeting with U.S. Treasury Secretary Scott Bessent, Japanese Finance Minister Katsunobu Kato said the talks would be based on their shared view that excessive volatility in exchange rates is undesirable.

Meanwhile, the pound hit its highest level since February 2022 after data showed UK consumer inflation flared up more strongly than expected in April, which could prompt the Bank of England to slow the pace of future interest rate cuts.

The British pound closed the trading session up 0.3% at $1.3425.

USD exchange rate today, May 22: USD slips below 100. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 22, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 6 VND, currently at 24,962 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,764 VND - 26,160 VND.

USD exchange rates at commercial banks are as follows: