USD exchange rate today (May 7): USD continues to decrease, EUR increases

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 0.44% to 99.40.

USD exchange rate today in the world

The US dollar continued to fall in the last trading session, due to concerns about trade deals, while the euro extended its gains after the German parliament elected conservative leader Friedrich Merz as Chancellor.

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

Investors are awaiting details on trade deals that the Trump administration says it is negotiating with other countries, including China. Trump said late last week that some of the deals would be announced this week.

“The market is nervous about trade deals, since the 90-day tariff delay without any announcement,” said Eugene Epstein, head of North American structuring at Moneycorp.

The dollar fell 0.86 percent against the Japanese yen to 142.445. The Taiwanese dollar pared gains after a record rally against the greenback amid tariff uncertainty. The currency fell 2.6 percent to 29.931.

The Canadian dollar rose after Prime Minister Mark Carney met with President Donald Trump during a visit to the White House on May 6. The Canadian dollar rose 0.39% against the US dollar to CAD1.38.

The start of trade talks between Mr. Trump and Mr. Carney also did not go smoothly, when Mr. Trump indicated that there would be no tariff agreement between the United States and Canada after the meeting at the White House.

Ahead of his trip to the US, Mr Carney is said to have downplayed expectations of a breakthrough in talks with Mr Trump.

On the other hand, the euro extended gains after Merz won the votes needed to become German chancellor. The common currency rose 0.50% to $1.1371.

Earlier that day, Mr. Merz unexpectedly failed in the first round of voting with only 310 votes in favor, 6 votes short. It was the first time since the war that a candidate from a party that won the election failed to pass the vote in the lower house to become prime minister.

The US trade deficit jumped 14% to a record $140.5 billion in March, the Commerce Department reported on May 6, as businesses ramped up imports ahead of President Donald Trump's tariffs.

The dollar fell 0.09% against the Swiss franc to 0.82145 francs. Swiss National Bank (SNB) President Martin Schlegel said the SNB was ready to intervene in the currency market and cut interest rates even below zero to prevent inflation from falling below its price stability target.

The market is focusing on the US Federal Reserve's (Fed) policy meeting today, May 7, in which the US Central Bank is expected to keep interest rates unchanged.

Meanwhile, the Bank of England is expected to cut interest rates by 25 basis points tomorrow, May 8. The pound rose 0.61% against the greenback, reaching $1.33780.

USD exchange rate today, May 7: USD continues to decrease, EUR increases. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 7, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 6 VND, currently at 24,938 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,742 VND - 26,134 VND.

USD exchange rates at commercial banks are as follows: