USD gradually loses momentum

Foreign exchange rates, USD/VND exchange rate today, July 1, recorded that the USD lost its upward momentum when the US 10-year bond yield witnessed a strong increase.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: 07/01/2024 08:00 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,445.54	16,611.65	17,144.51
CANADIAN DOLLAR	CAD	18,083.23	18,265.89	18,851.81
SWISS FRANC	CHF	27,587.38	27,866.04	28,759.91
YUAN RENMINBI	CNY	3,430.07	3,464.71	3,576.39
DANISH KRONE	DKK	-	3,581.68	3,718.82
EURO	EUR	26,363.45	26,629.75	27,808.90
Sterling Pound	GBP	31,326.13	31,642.56	32,657.57
HONGKONG DOLLAR	HKD	3,177.19	3,209.29	3,312.23
INDIAN RUPEE	INR	-	304.40	316.57
YEN	JPY	153.35	154.90	162.30
KOREAN WON	KRW	15.93	17.69	19:30
KUWAITIAN DINAR	KWD	-	82,732.19	86,039.41
MALAYSIAN RINGGIT	MYR	-	5,339.52	5,455.96
NORWEGIAN KRONER	NOK	-	2,335.81	2,434.97
RUSSIAN RUBLE	RUB	-	278.43	308.22
SAUDI RIAL	SAR	-	6,766.07	7,036.54
SWEDISH KRONA	SEK	-	2,342.57	2,442.02
SINGAPORE DOLLAR	SGD	18,272.37	18,456.94	19,048.99
THAILAND	THB	610.34	678.16	704.12
US DOLLAR	USD	25,223.00	25,253.00	25,473.00

Exchange rate developments in the domestic market

In the domestic market, according to TGVN at 7:30 a.m. on July 1, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,260 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank: 25,223 VND - 25,473 VND.

Vietinbank : 25,170 VND - 25,470 VND.

Foreign exchange rates, USD/VND exchange rate today, July 1: USD gradually loses momentum. (Source: CNN)

Exchange rate developments in the world market

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) was at 105.83.

The DXY index appears to be losing momentum. Meanwhile, the US 10-year bond yield saw a strong increase over the weekend and closed the week at a high.

Both yields and the DXY are at key levels, and everything this week will be closely watched.

The DXY index has an important resistance level in the 106.3-106.5 zone. The upside momentum of the index is expected to stop at the above resistance zone. A reversal from the 106.3-106.5 zone could take the index down to 105 in the short term. The possibility of an extended decline to 104.5 cannot be ruled out.

To avoid this decline, the DXY must first rise above 106.5 and then rise above 107. That would boost the upside momentum. It would also open the door for the DXY to target a rise to around 109-109.5.

The US 10-year Treasury yield has risen sharply after forming a solid base above 4.2%. The near-term outlook is positive. The US 10-year yield could rise to around 4.5-4.55% in the near term. The price action will then need to be closely watched to see if the yield breaks above 4.55%.

A reversal from the 4.5-4.55% region could drag yields down to the 4.4-4.35% region again.

The Euro is holding well above the 1.0660 support level. This would boost the possibility of a move to the 1.0730-1.0750 zone, and even to 1.08. A further break above 1.08 would then clear the way for a move to the 1.0880-1.09 zone in the medium term.

Conversely, if the Euro/USD pair falls below 1.0650, it could come under bearish pressure in the short term and decline in the 1.06-1.0550 range.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-17-usd-dan-mat-da-tang-276942.html