The USD Index (DXY), which measures the greenback's performance against six major currencies, stood at 104.04, down 0.16%.

Forecast of USD trend this week

The US dollar has turned slightly lower over the past week. Developments on the US debt ceiling deal weighed on the greenback over the past week. Accordingly, the greenback fell when the debt ceiling deal was passed. In addition, positive employment data released over the weekend helped the dollar recover slightly and pull it back up from its lowest level of the week.

Chart of DXY Index fluctuations over the past week. Photo: Marketwatch

Accordingly, the US added 339,000 jobs in May. This figure was much higher than the market's expectation of an increase of 190,000. However, the unemployment rate increased to 3.7% in May, compared to an increase of 3.4% in April. The market is now waiting for the US Federal Reserve's June policy meeting.

The DXY Index struggled to reach 104.50 decisively last week before turning sharply lower. Although it recovered in the final session of the week, the index needs to rise sharply above 104.50 to establish an uptrend towards 105-106.

Based on the technical charts, the DXY Index is expected to fall further this week. It may test the 103-102.8 level, before rallying back to the target of 105-106.

On the flip side, the euro fell below support at 1.07 last week, hitting a low of 1.0635, as expected, before rebounding from there. Strong resistance for the currency lies in the 1.08-1.0820 zone. The overall picture for the common European currency remains bearish. The euro could fall to 1.05 in the short term.

USD exchange rate today 5-6: USD will adjust slightly this week. Illustration photo: Reuters

Domestic USD exchange rate today

In the domestic market, at the end of the trading session on June 2, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD decreased by 7 VND, currently at: 23,722 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,400 VND - 24,858 VND.

USD exchange rates at commercial banks are as follows:

USD exchange rate

Buy

Sell

Vietcombank

23,310 VND

23,650 VND

Vietinbank

23,270 VND

23,690 VND

BIDV

23,320 VND

23,620 VND

* The Euro exchange rate at the State Bank's buying and selling exchange center increased slightly to: 24,246 VND - 26,799 VND.

Euro exchange rates at commercial banks are as follows:

Euro exchange rate

Buy

Sell

Vietcombank

24,862 VND

25,991 VND

Vietinbank

24,292 VND

25,582 VND

BIDV

24,882 VND

26,005 VND

MINH ANH