USD exchange rate today (July 8): USD increased in price after Mr...

USD exchange rate today: Early morning of July 8, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD decreased slightly, currently at 25,113 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) increased by 0.37% to 97.54.

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

USD exchange rate today in the world

The US dollar rose sharply against other major currencies on Monday, after US President Donald Trump announced new tariffs that will take effect from August 1 on a range of countries, including Japan and South Korea.

Mr. Trump posted letters to the leaders of several countries on his social media platform, announcing that he would impose 25% tariffs on Japan and South Korea. He also sent letters to the leaders of Malaysia, Kazakhstan, Myanmar, South Africa and Laos, stating tariffs roughly equivalent to those previously announced in April for each country.

The US dollar gained the most against the Japanese yen, and is currently up 1.09% at 146.130.

The US dollar also rose 0.38% to 0.798 against the Swiss franc in Monday's trading session.

Brad Bechtel, global head of foreign exchange at Jefferies, said there were some country-specific factors that had put some of these currencies under pressure before. “But clearly, the news this morning from the US regarding Trump and tariffs is having a negative impact on other currencies, with the exception of the US dollar, which is the exception this time,” he added.

The euro fell 0.57% to $1.172, having gained more than 13% so far this year.

Investors are concerned that Brussels may not reach an agreement with Washington before the deadline, as negotiations with the European Union have been slow despite several rounds of negotiations.

Most of America’s trading partners are facing the threat of higher tariffs as President Donald Trump’s 90-day “Liberation Day” reprieve from reciprocal tariffs announced earlier ends on Wednesday.

The pound fell 0.26% to $1.362, but remained near its highest since October 2021.

Currencies that are positively correlated with risk appetite, such as the Australian dollar and the New Zealand dollar, fell 0.79% and 0.74% respectively, as the market awaits monetary policy decisions from the two countries in the next two days.

The Reserve Bank of Australia (RBA) is widely expected to cut interest rates by another 0.25 percentage points on Tuesday, while the Reserve Bank of New Zealand is forecast to keep rates on hold on Wednesday.

“US policy uncertainty may not be as strong as it was in early April, but we think the correlation remains significant,” said Paul Mackel, global head of currency research at HSBC.

Illustration photo: cafef.vn

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on July 8, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 25,113 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center has slightly decreased, currently at: 23,908 VND - 26,318 VND.

USD exchange rates at commercial banks are as follows: