USD exchange rate today October 11, 2024: USD slightly decreased after employment data
USD exchange rate today October 11, 2024: The State Bank announced the central exchange rate of the Vietnamese Dong to the USD increased by 5 VND, at 24,172 VND. The US Dollar Index (DXY) decreased slightly by 0.06%, to 102.47.
World USD exchange rate today
The US Dollar Index (DXY), which measures the strength of the US dollar against six other major currencies, edged down 0.06% to 102.47.
The consumer price index (CPI) rose 0.2% in September and 2.4% over the past 12 months, marking the lowest increase since February 2021, according to the US Department of Labor.
Economists expect the CPI to rise just 0.1% month-over-month and 2.3% year-over-year. The number of Americans filing for unemployment benefits has spiked, partly due to the impact of Hurricane Helene.
Brad Bechtel, global head of FX at Jefferies in New York, said the market is torn between focusing on inflation and jobs, and pointed out that the Federal Reserve has changed its strategy from cutting interest rates by 50 basis points to not cutting any further in the near future.
The US dollar fell against the Japanese yen in recent trading on concerns about a weak labour market and a slight increase in consumer prices, raising the possibility that the US Federal Reserve (Fed) will cut interest rates.
The dollar fell 0.38 percent to 148.66 yen, after rising as high as 149.58 yen, marking its highest level since August 2. Recent remarks by the Bank of Japan's deputy governor supported a rate hike, weakening the dollar against the yen.
The euro also fell, hitting its lowest level against the dollar since August 8, down 0.14% to $1.0925. The dollar also fell 0.45% against the Swiss franc, down to 0.856.
The DXY index, which measures the value of the dollar against a basket of currencies, rose to 103 before falling.
Atlanta Federal Reserve Bank President Raphael Bostic, in an interview with the Wall Street Journal on October 11, did not oppose keeping interest rates unchanged at the upcoming Fed meeting, emphasizing that fluctuations in inflation and employment data could support the decision.
Traders are pricing in an 85% chance that the Fed will cut rates by 25 basis points at its policy meeting on November 7, while about 15% predict no change in rates.
The yield on two-year Treasuries, a key gauge of interest rate expectations, fell 2.8 basis points to 3.989%.
Domestic USD exchange rate today
The State Bank announced the new central exchange rate at 24,172 VND/USD, up 4 VND compared to the previous day.
Commercial banks can trade USD in the range of 22,963 to 25,380 VND/USD, according to the +/-5% margin regulation.
Vietcombank currently lists the USD buying price at 24,640 VND and the selling price at 25,030 VND, up 5 VND compared to this morning.
VietinBank bought USD at 24,515 VND and sold at 25,015 VND, also up 5 VND compared to the morning.
Techcombank's current USD buying price is 24,586 VND and selling price is 25,094 VND.
Eximbank listed the USD buying/selling rate at 24,650/25,070 VND.
On the free market, the USD price is currently 25,250 for buying and 25,350 for selling, unchanged and down 10 VND compared to the morning. The USD buying price on the free market is 735 VND higher and the selling price is about 335 VND higher than the bank price.
