USD exchange rate today (July 6): Long-term confidence in the...

USD exchange rate today: Early morning of July 6, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD remains unchanged, currently at 25,116 VND.

The USD Index (DXY), which measures the greenback's performance against six major currencies, fell 0.21% to 96.99 this week.

USD exchange rate in the world last week

The US dollar had a volatile week from June 30 to July 4, with the main trend being downwards. The Dollar Index (DXY), which measures the value of the US dollar against six major currencies, hit a three-year low, falling below 96.7 on July 1.

The US dollar has lost more than 10% of its value since the beginning of 2025, and has lost about 10.7% in the past six months. This weakness reflects not only economic factors but also political and market sentiment, making the US dollar the focus of attention for investors and analysts around the world.

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

The main reasons for the weakening of the USD during this period come from many sides. First of all, the monetary policy of the US Federal Reserve (FED) is under great pressure from President Donald Trump's statements calling for lower interest rates to stimulate the economy . In addition, uncertainties related to trade policy also contribute to the downward trend of the USD. These factors have created uncertainty in the market, causing money to move away from the USD and into safe-haven assets such as gold and Bitcoin.

In addition, US economic data released this week showed that the US labor market remains relatively positive. Specifically, the June employment report showed that the US economy created about 147,000 new jobs, higher than the market forecast. This data partly supported the USD's slight recovery in the middle of the week, when the market thought that the FED might delay its plan to cut interest rates in the near future. However, expectations of a monetary policy easing cycle still exist, especially when other indicators such as inflation and consumer spending have not shown a clear acceleration.

In terms of exchange rates, the US dollar has depreciated against most major currencies in the world. The EUR/USD exchange rate rose sharply to its highest level since 2021, indicating that the euro is gaining more dominance over the US dollar. Similarly, the British pound (GBP), Canadian dollar (CAD), Swiss franc (CHF), and Japanese yen (JPY) all recorded gains against the US dollar, reinforcing the weakening trend of this currency.

Central banks around the world are diversifying their reserve portfolios into currencies such as the Japanese yen, British pounds, and other non-traditional currencies, reflecting a decline in confidence in the US dollar as a global financial mainstay, especially as countries such as China and Russia promote the use of domestic currencies in international trade.

It has been a challenging week for the US dollar, which has been hit hard by political pressure, monetary policy and market sentiment. While it remains the main reserve currency, the overall sentiment in the market suggests that long-term confidence in the US dollar is not yet solidified.

Confidence in the USD has not been strengthened. Photo: Bloomberg

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on July 6, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 25,116 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center remains unchanged, currently at: 23,911 VND - 26,321 VND.

USD exchange rates at commercial banks are as follows: