USD exchange rate on May 29: The greenback increased for the second consecutive session

The financial market recorded that the world USD continued to increase in today's trading session on May 29, marking the second consecutive increase.

At the opening of the trading session on May 29, the announced exchange rate of the Vietnamese Dong against the USD increased by 12 VND, reaching 24,947 VND. The reference USD exchange rate at the State Bank of Vietnam in terms of buying and selling increased slightly, currently listed at 23,750 - 26,144 VND.

The USD Index (DXY) measures the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.35% to 99.88 points.

The dollar was boosted by the end of last week’s easing of concerns about tariff threats against Europe, which reduced negative sentiment about the US growth trajectory and boosted the greenback. Additionally, positive US consumer confidence data released earlier in the week reinforced the view that the US economy remains solid.

The easing of tariff concerns has boosted the dollar, said Karl Schamotta, chief market strategist at Corpay. Markets are also watching the progress of the budget and spending bill in the US, as President Donald Trump plans to negotiate aspects of the tax bill.

The dollar did not react much to the minutes of the Federal Reserve's May 6-7 meeting released on May 28. Fed officials acknowledged that they could face "difficult trade-offs" in the coming months amid rising inflation and rising unemployment. The minutes also predicted a growing risk of a recession.

The Fed left interest rates unchanged at the meeting. However, Fed funds futures traders believe the US central bank is more likely to cut rates again in September. The Fed is expected to prioritize inflation concerns in its monetary policy decisions until there are clear signs of economic weakness.

The EUR fell 0.35% to $1.1288 against the USD. The euro fell 0.48% to $1.1240 against the USD. The pound fell 0.3% to $1.3430 against the USD. The USD rose 0.69% to $145.86 against the Japanese yen. The USD rose 1% to $144.28 against the Japanese yen in the last trading session.

Investors also focused on Nvidia after the stock market closed yesterday, which could impact overall risk sentiment and could also boost the U.S. currency. April personal consumption expenditure data, the Fed's preferred inflation gauge, is due out on May 30, the next focus.

Source: https://baoquangnam.vn/ty-gia-usd-ngay-29-5-dong-bac-xanh-tang-phien-thu-hai-lien-tiep-3155698.html