USD exchange rate today (August 8): USD reverses to increase

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 0.13%, currently at 98.05.

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

USD exchange rate today in the world

The dollar rose on Thursday after Bloomberg News reported that Federal Reserve Governor Christopher Waller is emerging as a leading candidate for Fed chairman on President Donald Trump’s team. Bloomberg said Waller has met with members of Trump’s team who are impressed with him, though he has not met the president in person.

However, Mr. Waller is highly regarded by financial and central bankers, and his appointment would be a positive signal for the dollar, according to Karl Schamotta, chief market strategist at Corpay in Toronto. “Waller is seen as dovish, but has the credibility to keep long-term interest rates stable and is a strong support for capital flows into the dollar,” Schamotta said.

On Tuesday, Mr. Trump said he had narrowed his list of candidates for Fed chair to four, including economic adviser Kevin Hassett, former Fed governor and Trump supporter Kevin Warsh, and two others. While Mr. Trump did not name the other two, one of them is believed to be Waller. On Wednesday, Mr. Trump also said he would likely nominate a candidate within the next two to three days to fill the vacancy on the Fed Board of Governors that was left vacant after Adriana Kugler abruptly announced her resignation last week.

Against the Japanese yen, the US dollar rose 0.1% to 147.49.

The pound rose after a higher-than-expected vote by policymakers at the Bank of England (BoE) to keep interest rates unchanged, despite the bank cutting rates by 25 basis points as expected. Four of the nine BoE members voted to keep rates unchanged amid concerns about high inflation, suggesting the BoE's rate-cutting cycle may be coming to an end. The pound ended the session up 0.41% at $1.341.

Meanwhile, the euro fell 0.27% to $1.1627. The euro is likely to continue to be supported against the dollar, thanks to a relatively more hawkish policy from the European Central Bank (ECB).

Data on Thursday showed new U.S. jobless claims rose slightly last week, suggesting the labor market remains broadly solid, though job creation is slowing and laid-off workers are taking longer to find new jobs. Meanwhile, Americans’ long-term inflation expectations worsened in July, even as they became more positive about their current and future financial situations, according to data from the New York Fed.

Atlanta Fed President Raphael Bostic said risks to the labor market have increased, but it is too early to commit to a rate cut before the Fed's next meeting, given the lack of important data and the possibility of rising inflation in the coming months.

The dollar rose 0.16% to 0.808 against the Swiss franc after President Karin Keller-Sutter returned from Washington without reaching a deal to avoid a 39% tariff on Swiss exports to the United States. Switzerland will continue negotiations with the United States, Ms. Keller-Sutter said.

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on August 8, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 25,239 VND.

* The reference USD exchange rate at the State Bank's buying and selling exchange center increased, currently at: 24,028 VND - 26,450 VND.

USD exchange rates at commercial banks are as follows: