The DXY index, which measures the strength of the US dollar against six major currencies, fell nearly 2% last week and closed above 98. The decline was largely driven by President Trump’s tough trade policies and statements, including his push for higher tariffs on goods from the European Union and his criticism of the US Federal Reserve’s monetary policy.
President Trump’s policies are raising concerns about the negative impact on global trade and world economic growth. These concerns have prompted investors to sell off the USD, putting a lot of pressure on the currency. In the coming week, if trade war fears continue to increase, the DXY index is likely to maintain its downtrend, with the next targets below 97 and even 96 – a strong long-term support level.
Global investors are becoming more cautious as political interference could erode the Fed’s independence in setting interest rates. Increased risk aversion has sent capital into safe havens such as gold and the Swiss franc, further weakening the dollar.
The yield on the 10-year US Treasury note is another important factor affecting the USD. Last week, the yield rose sharply to 4.63% in the first half of the week, but then fell back, erasing almost all of its previous gains. Currently, the yield is hovering around the support zone of 4.4 - 4.35%. If the yield stays above this zone, it could provide some support for the USD, helping to limit the decline in the DXY index.
The euro (EUR) is showing positive signs, reinforcing the downward pressure on the USD. The EUR/USD pair has recovered strongly from the low of 1.1065, maintaining the overall bullish trend. Current support levels for EUR/USD are 1.1250, 1.1170 and 1.1090, while the next target is the 1.14 area. If the upward momentum is maintained, EUR/USD may reach the 1.15 - 1.16 area in the coming weeks. The strengthening of the euro is not only due to the internal factors of the euro area but also due to the weakness of the USD. This suggests that the EUR/USD pair may continue to rise next week.
In the domestic market, at the beginning of the trading session on June 30, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 25,048 VND.
The reference USD exchange rate at the State Bank's transaction office for buying and selling is kept at: 23,846 VND - 26,250 VND.
USD exchange rates at commercial banks are as follows:
Vietcombank buys 25,880 VND; sells 26,270 VND
Vietinbank buys 25,765 VND; sells 26,275 VND
BIDV buys 25,910 VND; sells 26,270 VND
Source: https://baodaknong.vn/ty-gia-ngoai-te-hom-nay-30-6-chi-so-usd-index-dung-o-muc-97-25-268056.html
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