USD rises most in two months, Euro lacks momentum

Foreign exchange rates, USD/VND exchange rate today, June 10, recorded the USD maintaining trading in the range of 104-105.50. The DXY index not only regained its weekly growth momentum, but also established the strongest daily increase since April 10.

Foreign exchange rate update table - Vietcombank USD exchange rate today

1. VCB - Updated: June 23, 2024 06:26 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
AUSTRALIAN DOLLAR	AUD	16,505.59	16,672.31	17,205.77
CANADIAN DOLLAR	CAD	18,123.37	18,306.44	18,892.18
SWISS FRANC	CHF	27,825.49	28,106.56	29,005.88
YUAN RENMINBI	CNY	3,433.20	3,467.88	3,579.38
DANISH KRONE	DKK	-	3,585.83	3,722.84
EURO	EUR	26,546.33	26,814.47	27,999.61
Sterling Pound	GBP	31,379.47	31,696.44	32,710.62
HONGKONG DOLLAR	HKD	3,178.20	3,210.31	3,313.02
INDIAN RUPEE	INR	-	303.61	315.72
YEN	JPY	155.28	156.85	164.33
KOREAN WON	KRW	15.84	17.60	19.19
KUWAITIAN DINAR	KWD	-	82,749.40	86,050.57
MALAYSIAN RINGGIT	MYR	-	5,340.02	5,456.05
NORWEGIAN KRONER	NOK	-	2,364.93	2,465.14
RUSSIAN RUBLE	RUB	-	277.20	306.84
SAUDI RIAL	SAR	-	6,765.27	7,035.16
SWEDISH KRONA	SEK	-	2,374.60	2,475.21
SINGAPORE DOLLAR	SGD	18,321.50	18,506.56	19,098.71
THAILAND	THB	612.10	680.11	706.09
US DOLLAR	USD	25,218.00	25,248.00	25,468.00

Exchange rate developments in the domestic market

In the domestic market, at 7:30 a.m. on June 10, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,241 VND, unchanged.

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: 25,183 VND - 25,453 VND.

Vietinbank : 25,105 VND - 25,415 VND.

Foreign exchange rates, USD/VND exchange rate today, June 10: USD increases the most in two months, Euro lacks momentum. (Source: Globaltrademag)

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) maintained trading within the range of 104-105.50. The release of positive US non-farm payroll data had a positive impact on the DXY index.

Accordingly, the US non-farm payrolls increased by 272,000 jobs in May, while revisions showed the total number of jobs created in March and April was 15,000 fewer than previously reported.

This data helped the DXY Index not only regain its weekly momentum, but also set a record for its strongest daily gain since April 10.

However, the immediate outlook for the DXY remains unclear. As mentioned last week, the 104-105.50 range is likely to remain in place in the short term. A breakout on either side of this range will determine the next move for the DXY.

Specifically, a break below 104 could send the DXY index down to the 103-102.50 range.

Conversely, a break above 105.50 would add to the upside momentum, pushing the DXY up to the 106.50-107 range initially and even to 108 in the short term.

Meanwhile, the Euro continues to fall, lacking enough momentum to break above 1.09. However, it is also finding support at 1.08.

The main support zone is in the range of 1.0780-1.0760. The euro needs to stay above this support zone for the bullish trend to resume and help it break above 1.09. Such a break could take the currency to 1.0950 and 1.10 in the short term.

Conversely, if the Euro falls below 1.0760, it is likely to continue falling thereafter. Once the bearish momentum is established, the EUR/USD index could fall to 1.07 and even lower.

The European Central Bank meeting last week fueled the euro's decline this past week.

This week, the US Federal Reserve will hold a policy meeting on June 12. US inflation data will also be released on the same day. The outcome of these events could also impact the currency market.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-106-usd-tang-manh-nhat-trong-hai-thang-euro-thieu-dong-luc-274415.html