USD exchange rate today (July 2): USD narrowed its decline compared to other...

USD exchange rate today: Early morning of July 2, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased slightly, currently at 25,058 VND.

Meanwhile, in the US market, the US Dollar Index (DXY) measuring the greenback's fluctuations against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased by 0.23% to 96.66.

DXY Index volatility chart over the past 24 hours. Photo: Marketwatch

USD exchange rate today in the world

The dollar pared losses against major currencies including the Japanese yen and Swiss franc on Tuesday, after data showed stronger-than-expected labor market demand and the Federal Reserve is unlikely to rush to cut interest rates.

The Republican-controlled US Senate has passed President Donald Trump's tax and spending bill, approving a massive package that includes many of his top priorities while adding $3.3 trillion to the national debt. The bill now moves to the House of Representatives for final approval.

At a central bank conference in Portugal, Fed Chairman Jerome Powell reiterated that the US central bank will wait for more data before starting to ease monetary policy, but he did not rule out a rate cut in July.

The dollar pared losses against the yen and the Swiss franc after data from the Labor Department showed job openings rose by 374,000 to 7.769 million in May. The dollar pared losses against the yen and the Swiss franc after the Senate passed a spending bill. The greenback fell 0.29% to 143.58 yen and 0.16% to 0.79175 Swiss franc, down from earlier losses of 0.46% and 0.28%, respectively.

“This has been the worst first half of the year for the US dollar index since 1973, largely due to concerns about trade policy and the economic slowdown,” said Matthew Weller, director of global markets research at StoneX. “However, in the short term, the market may be overreacting and the US dollar is likely to recover in July.”

U.S. Treasury yields rose after the jobs data. The yield on the benchmark 10-year note rose 2.3 basis points to 4.25%.

“Concerns about the Fed or monetary policy are weighing on the dollar,” said Marvin Loh, senior global market strategist at State Street in Boston. “If the Fed cuts rates, the spread will narrow… The probability of a July rate cut is now at 20%, compared to zero just a few weeks ago. Clearly the probability of a September cut is becoming more certain and the market view is changing.”

The euro fell 0.13% to $1.18020 after rising 0.05% on the day.

The pound reversed gains, currently up 0.07% to 1.374 against the dollar, marking its second consecutive session of gains.

Illustration photo: kinhtedothi.vn

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on July 2, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 25,058 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 23,856 VND - 26,260 VND.

USD exchange rates at commercial banks are as follows: