USD exchange rate today (May 9): USD increases rapidly

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) increased by 1.02% to 100.63.

USD exchange rate today in the world

The US dollar rose sharply against the Japanese yen and Swiss franc in the last trading session, as market worries eased following a bilateral trade deal between the US and the UK, while the British pound reversed gains made after the Bank of England cut interest rates.

US President Donald Trump announced a “groundbreaking” trade deal with the UK on May 8 that will keep the basic 10% tariff on UK imports, including vehicles.

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

“The market sees the trade deal as a positive. In my view, the 10% base tariff is still very high for goods imported into the US and changes my assessment of how global trade works,” said Axel Merk, president and chief investment officer at Merk Hard Currency Fund in California, US.

The dollar rose to a four-week high against the Japanese yen of 146.175 after the trade deal announcement. The dollar rose 1.55% to 146 yen.

Against the Swiss franc, the currency rose 1.07% to 0.8323 francs, its highest since May 1.

The deal could serve as a template for other countries looking to sign trade agreements with the US, said Steve Englander, global head of G10 FX research at Standard Chartered in New York.

President Donald Trump said he expected substantive talks between the United States and China when US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer meet Chinese economic tycoon He Lifeng in Switzerland tomorrow, May 10.

The Bank of England (BoE) Monetary Policy Committee voted to cut interest rates by 25 basis points, in line with market expectations, with two policymakers, Swati Dhingra and Alan Taylor, backing a larger-than-usual cut of 50 basis points, while MPC member Catherine Mann and Chief Economist Huw Pill voted to keep rates unchanged at 4.5%. Economists expected only Swati Dhingra to support a larger rate cut, with the rest voting for a 25 basis point cut.

The BoE's decision came a day after the US Federal Reserve (Fed) decided to keep interest rates unchanged but said inflation and unemployment risks had increased.

The pound reversed to fall 0.37% against the dollar, to $1.32410.

The DXY index rose to its highest level since April 10. In contrast, the EUR fell 0.71% to $1.122175.

The US dollar also rose against the Swedish and Norwegian currencies after the Swedish Riksbank and Norwegian Norges central banks kept interest rates unchanged as expected. The Swedish currency rose 0.94% against the US dollar to 9.7471, while the Norwegian currency gained 0.99% against the US dollar to 10.4313.

USD exchange rate today, May 9: USD increases rapidly. Photo: Reuters

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on May 9, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD decreased by 3 VND, currently at 24,927 VND.

* The reference exchange rate at the State Bank's transaction office has slightly decreased, currently at: 23,731 VND - 26,123 VND.

USD exchange rates at commercial banks are as follows: