Foreign exchange rates, USD/VND exchange rate today July 1: Decoding the reason why Japanese Yen increased sharply, USD cannot reverse

Foreign exchange rates, USD/VND exchange rate today, July 1, recorded a strong increase in the Japanese Yen after the news that the Bank of Japan (BOJ) may raise interest rates to 0.25%, higher than market expectations.

Foreign exchange rate update table - USD exchange rate Agribank today

1. Agribank - Updated: 07/01/2025 07:00 - Time of website supply source
Foreign currency		Buy		Sell
Name	Code	Cash	Transfer
USD	USD	25,910	25,910	26,250
EUR	EUR	29,949	30,069	31,193
GBP	GBP	35,129	35,270	36,266
HKD	HKD	3,257	3,270	3,375
CHF	CHF	32,037	32,166	33,098
JPY	JPY	176.68	177.39	184.77
AUD	AUD	16,699	16,766	17,301
SGD	SGD	20,094	20,175	20,727
THB	THB	779	782	817
CAD	CAD	18,730	18,805	19,333
NZD	NZD		15,562	16,070
KRW	KRW		18.37	20.24

Exchange rate developments in the domestic market

In the domestic market, according to the World and Vietnam Newspaper at 7:30 a.m. on July 1, the State Bank announced the central exchange rate of the Vietnamese Dong at 25,052 VND.

The reference USD exchange rate at the State Bank of Vietnam is listed at: 23,850 VND - 26,254 VND.

USD exchange rates at commercial banks are as follows:

Vietcombank : 25,910 - 26,300 VND.

Vietinbank: 25,790 - 26,300 VND.

Foreign exchange rates, USD/VND exchange rate today, July 1: Decoding the reason why Japanese Yen increased sharply, USD cannot reverse. (Source: istock)

World market developments

The US Dollar Index (DXY) measuring the greenback's movements against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.63% to 96.79.

The Japanese Yen rose sharply after the Bank of Japan (BOJ) could raise interest rates to 0.25%, higher than market expectations. This caused the USD to fall nearly 0.5%, to 153.29 Yen.

However, some experts say the Yen's rise may be temporary, as the large interest rate differential between Japan and the US remains.

The BOJ is also expected to announce plans to gradually reduce its massive bond-buying program - a move that would mark a step back from its decade-long easing policy.

“We’ve seen quite a bit of volatility in the yen today,” said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto, Canada. “Many people thought the yen’s strength was fully priced in, but the reality is that positions are starting to unwind, particularly those borrowing yen to invest in higher-yielding assets.”

Mr Osborne assessed that the fair value of the yen could be around 145 yen/dollar, while noting that “the exit process of shorting the yen is not yet complete and could still reverse”.

Since the beginning of July, the USD has lost about 4.7% against the yen.

The US Federal Reserve (Fed) is expected to keep interest rates unchanged at its next meeting, but investors are expecting the Fed to give a clearer signal about rate cuts.

In addition, US economic data released on June 30 showed that the number of job vacancies decreased slightly, while consumer confidence in the labor market continued to deteriorate - factors that could push the Fed to ease sooner.

In Europe, the euro fell 0.06% to trade around $1.0812. Eurozone growth in the second quarter of 2025 slightly exceeded expectations, but the outlook was still clouded by weak confidence indicators and a rebound in German inflation.

Source: https://baoquocte.vn/ty-gia-ngoai-te-ty-gia-usdvnd-hom-nay-17-giai-ma-ly-do-yen-nhat-tang-manh-usd-chua-the-dao-chieu-319540.html