U.S. Dollar Ascends to Year’s High Against Key Currencies Amid Oil Price Surge & Inflation Fears
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The United States dollar achieved a rise against the Vietnamese dong on Thursday morning, while concurrently reaching peak levels this year against other major currencies. The Vietnamese bank, Vietcombank, increased the dollar’s rate by 0.01%, setting it at VND26,314.
Greenback Performance in the Informal Market
In contrast to its performance with Vietcombank, the US dollar, informally known as the greenback, recorded a slight decline of 0.18% on the informal market, bringing it down to VND27,910.
The Dollar’s Global Strength
On the international front, the greenback maintained its position as a safe-haven currency, staying close to its most robust levels of the year. This strength comes in the wake of rising oil prices, which threaten to trigger inflation and compel central banks worldwide to adopt a more bullish policy stance.
Performance Against Other Currencies
The euro experienced a minor fall of 0.1% against the greenback, with an early Asian trading rate of $1.1549, which is nearing its lowest level since November.
Japan’s yen also saw a decline, dipping below the 159-per-dollar mark, with a decrease of up to 0.2% to 159.23. This trend brings the yen close to its weakest level since July 2024.
Meanwhile, the Australian dollar and the New Zealand dollar each fell by 0.1%, recorded at $0.7148 and $0.5907 respectively.
Questions & Answers
What was the performance of the US dollar against the Vietnamese dong?
The US dollar rose against the Vietnamese dong on Thursday morning.
How did the greenback perform on the informal market?
On the informal market, the greenback recorded a slight decline of 0.18%.
How has the rise in oil prices affected the US dollar?
The rising oil prices threaten to trigger inflation, which in turn has kept the US dollar close to its strongest levels this year as central banks worldwide may be compelled to adopt a more bullish policy stance.