USD exchange rate today October 10, 2024: USD increases close to 103

World USD exchange rate on October 10, 2024

The US Dollar Index (DXY), which measures the US dollar's performance against six major currencies, rose 0.33% to 102.88.

The US dollar edged up after minutes from the US Federal Reserve's September meeting showed strong support for a 50 basis point interest rate cut.

Investors expect the Fed not to cut rates too much after looking at positive data from non-farm payrolls, which has changed expectations for a near-term rate cut.

Amo Sahota, CEO at Klarity FX, commented that the rise in the DXY index was related to the strong US jobs report.

It seems that Fed Chairman Jerome Powell needs to convince more people about cutting interest rates by 25 basis points instead of 50 basis points.

Lorie Logan, President of the Federal Reserve Bank of Dallas, supported last month's 50 basis point interest rate cut but wants smaller rate cuts in the future due to concerns about inflation and economic uncertainty.

Traders see an 83% chance that the Fed will cut rates by 25 basis points in November and possibly another 50 basis points by year-end, according to the Fed minutes. The odds of the Fed holding rates steady next month are 17%.

The euro fell sharply, hitting a two-month low against the US dollar, down 0.36% to $1.094.

The US dollar rose 0.72% against the Japanese yen to 149.26 yen, the highest since August 15. The yen has weakened since Japanese Prime Minister Shigeru Ishiba took office on surprise comments that Japan was not ready to raise interest rates.

The Australian dollar fell 0.43% against the US dollar to $0.6716.

The New Zealand dollar has been volatile after the Reserve Bank of New Zealand cut interest rates by 50 basis points. According to Lenny Jin of HSBC, the New Zealand dollar faces short-term challenges such as the Fed's monetary policy, geopolitics and the US presidential election.

The US dollar rose 0.42% against the Swiss franc to 0.86, its highest since August 20.

The pound fell 0.25% to $1.3071, its lowest since September 12.

Domestic USD exchange rate on October 10, 2024

The State Bank kept the central VND/USD exchange rate stable at 24,168 VND.

The State Bank of Vietnam listed the USD exchange rate from 23,400 to 25,326 VND/USD, unchanged from the previous session.

The USD exchange rate on the free market today (October 10) increased compared to the previous session. In Hanoi, the USD exchange rate on the free market increased by 10 VND, trading at 25,246 - 25,346 VND/USD.

Vietcombank listed a stable USD exchange rate, buying and selling at 24,635 - 25,025 VND/USD.

BIDV reduced the buying and selling price of USD by 15 VND, listed at 24,650 - 25,010 VND/USD.

Vietinbank reduced the buying and selling price of USD by 10 VND, listed at 24,510 - 25,010 VND/USD.

Eximbank kept the USD buying and selling prices unchanged, listed at 24,640 - 25,000 VND/USD.