USD holds above 105.5, EUR supported

Foreign exchange rate, USD/VND exchange rate today December 9 recorded USD fluctuating around the important support level of 105.5.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: December 9, 2024 07:30 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,185	25,187	25,467
EUR	EUR	26,284	26,390	27,490
GBP	GBP	31,717	31,844	32,810
HKD	HKD	3,192	3,205	3,309
CHF	CHF	28,296	28,410	29,280
JPY	JPY	165.01	165.67	173.01
AUD	AUD	16,024	16,088	16,581
SGD	SGD	18,592	18,667	19,189
THB	THB	723	726	757
CAD	CAD	17,742	17,813	18,325
NZD	NZD		14,664	15,156
KRW	KRW		17.18	18.85

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:00 a.m. on December 9, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,255 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 : 25,134 - 25,467 VND.

Vietinbank : 25,170 - 25,467 VND.

Foreign exchange rates, USD/VND exchange rate today December 9: USD stays above 105.5, EUR is supported. (Source: Getty Images)

Exchange rate developments in the world market

The US Dollar Index (DXY) measures the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) at 105.97.

The DXY index fluctuated around the important support level of 105.5 throughout last week. The index fell below the support level but then rebounded.

The decline after the jobs data was released late last week was short-lived. The DXY index hit a low of 105.42 shortly after the data was released but then rebounded to close the week at 105.97.

Currently, the market expects the US Federal Reserve (Fed) to cut interest rates by 25 basis points at its meeting on December 18.

Following the payrolls data, US interest rate futures also priced in an 85% chance of the Fed cutting rates by 25 basis points at its policy meeting later this month, up from around 70% just before the data was released.

The DXY index is struggling to stay above 105.5. The short-term outlook remains unclear. The index needs to stay above 107 to regain long-term momentum.

If that happens, the DXY index could break above 108 and rise to the 110-111 zone in the next month or two.

In case the index falls below 105.50, it could drop to 104. A sharp drop below 104 would be completely bearish.

Meanwhile, the yield on the 10-year US Treasury note is struggling to rise above 4.2%. The short-term picture is negative. Yields could fall to 4.05% or 4% in the coming days.

This could have a negative impact on the greenback, keeping the DXY index low in the short term.

The 10-year Treasury yield needs to rise above 4.25% to pave the way for a return to 4.5%.

EUR/USD is finding support around 1.0470.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-912-usd-giu-tren-moc-1055-eur-duoc-ho-tro-296710.html