USD sees bullish momentum in the short term

Foreign exchange rates, USD/VND exchange rate today, December 26, recorded the USD continuing to increase, supported by the US Federal Reserve (Fed) expected to cut interest rates more slowly.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: December 26, 2024 08:00 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,270	25,276	25,536
EUR	EUR	25,948	26,052	27,150
GBP	GBP	31,296	31,422	32,383
HKD	HKD	3,210	3,223	3,327
CHF	CHF	27,737	27,848	28,687
JPY	JPY	158.09	158.72	165.50
AUD	AUD	15,541	15,603	16,108
SGD	SGD	18,378	18,452	18,962
THB	THB	725	728	759
CAD	CAD	17,383	17,453	17,947
NZD	NZD		14,113	14,599
KRW	KRW		16.71	18.34

Exchange rate developments in the domestic market

In the domestic market, according to TG&VN at 7:00 a.m. on December 26, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,315 VND, down 9 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 : 25,200 - 25,530 VND.

Vietinbank : 25,225 - 25,530 VND.

Foreign exchange rates, USD/VND exchange rate today December 26: USD sees short-term upward momentum. (Source: Reuters)

Exchange rate developments in the world market

The US Dollar Index (DXY) measuring the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.09%, currently at 108.12.

The US dollar continued to rise, supported by the US Federal Reserve's expected slower pace of interest rate cuts and market expectations of US economic growth.

The dollar has gained more than 7% since September, supported by inflation and the Fed's forecast of a slower pace of rate easing next year.

Meanwhile, the yield on the 10-year US Treasury note hit a seven-month high of 4.629% as the Fed's dovish stance contrasted with global growth and interest rate forecasts. The widening interest rate differential between the US and other economies has contributed to the greenback's strength.

As the market remains focused on interest rates, trading volumes are expected to remain low heading into the new year 2024.

The price remains above 107.9, indicating bullish momentum in the short term. A break above the resistance level of 108.54 could push the index higher towards the next resistance level of 108.9.

On the downside, key support lies at 107.60, with the next support around 107.18. The DXY needs to hold above these levels to keep the uptrend intact.

Meanwhile, the yield on the US 10-year bond recently jumped to 4.62%, breaking through resistance, reflecting investor confidence in the strength of the US economy and expectations that the Fed will cut interest rates more slowly.

The rise in yields reflects growing demand for higher returns amid global economic uncertainty. Stronger 10-year yields typically help boost the dollar as higher yields attract foreign investment.

In another development, the EUR/USD exchange rate is currently trading at 1.03912 USD. The EUR slightly decreased by 0.13% against the USD.

The main support level is at $1.04465, which is likely to determine the next move of the European common currency. If the price breaks this level, the EUR/USD pair could target the resistance level of $1.05324, followed by the $1.06288 mark.

On the downside, the support level for the EUR is at $1.03426 and if the price breaks below this level, it could move towards the next support level at $1.02760.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-2612-usd-thay-dong-luc-tang-gia-trong-ngan-han-298662.html