USD exchange rate today August 14: International price drops sharply

USD exchange rate today in the world

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 0.54% to 102.60.

The US dollar has fallen against the Japanese yen and has also lost value against many other currencies.

The decline comes as the market awaits inflation data from the US, which could influence the US Federal Reserve's decision on whether to cut interest rates in September.

The dollar weakened further after a report showed U.S. producer prices rose less than expected in July, reflecting a rise in goods prices weighed down by lower services prices, suggesting inflation remained steady.

The consumer price index report, due out on August 14, will be closely watched and could influence the Fed's upcoming interest rate policy.

“Today’s data is certainly seen as promising news for the market,” said Helen Given, vice president of trading at Monex USA. “The market has been preparing for potential volatility after last month’s data showed that prices have actually fallen.”

Since July, the currency market has seen strong volatility due to the sudden appreciation of the Japanese yen. This appreciation has sparked and also resulted in the elimination of the investment strategy of "interest rate carry trading", causing a decline in stock prices.

Although the dollar fell 0.35% against the yen to 146.71 yen, the currency market appeared to have stabilized after a period of turmoil.

The yen fell to a 38-year low in July, as investors engaged in carry trades, borrowing yen at low interest rates in Japan to invest in higher-yielding assets.

Recent moves, including a surprise rate hike by the Bank of Japan and expectations of a rate cut in the US due to a slowing labour market, have helped reverse the trend in the carry trade, sending the yen up about 8% since mid-July.

Japan's parliament is scheduled to hold a special session on August 23 to discuss the Bank of Japan's recent interest rate hike, government sources told Reuters on August 13.

Elsewhere, the euro rose 0.61 percent to $1.0999, while the pound rose 0.81 percent to $1.2869 after data showed the UK unemployment rate fell to 4.2 percent in June from 4.4 percent in May, beating economists' expectations for a slight increase. The number of job vacancies fell, and wage growth also slowed.

"The recent panic surrounding the Federal Reserve's rate cuts has eased, and the market is slowly stabilizing," said Helen Given, vice president of trading at Monex USA.

Ms Given also added that the decline in the Consumer Price Index (CPI) would likely weigh more heavily on the US dollar and push the Dollar Index (DXY) further into negative territory.

USD exchange rate today in the country

In the domestic market, at the beginning of the trading session on August 14, the State Bank announced that the central exchange rate of the Vietnamese Dong against the USD remained unchanged, currently at 24,256 VND.

* The reference exchange rate at the State Bank's transaction office remains unchanged, currently at: 23,400 VND - 25,450 VND.

USD exchange rates at commercial banks are as follows:

* The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 25,187 VND - 27,839 VND.

EUR exchange rates at commercial banks are as follows:

* The Japanese Yen exchange rate at the State Bank's exchange office for buying and selling has slightly decreased, currently at: 156 VND - 173 VND.