USD exchange rate today November 25, 2024: USD is likely to go straight to 110

Forecast of USD trend this week

The U.S. Dollar Index (DXY), which measures the greenback against a basket of six major currencies, is currently at 107.49. The index has continued its rise for three consecutive weeks, rising 0.75% last week and closing well above 107, helping the dollar maintain its strong position.

U.S. Personal Consumption Expenditures (PCE) data will be released on November 27 and will be closely watched by investors. If the PCE, the Federal Reserve's inflation gauge, shows a similar increase as the CPI earlier this month, it could support U.S. Treasury yields, helping the DXY index continue to rise in the near term.

The DXY index breaking above 106 and continuing to rise above 107 is a positive signal. The price range of 106.50 - 105.50 has now become a strong support level for the index. If the DXY stays above this support level, the possibility of the index reaching 110 in the next few weeks is very high.

The yield on the 10-year US Treasury note is currently struggling to break above 4.5%. If yields stay below that level, they could fall to 4.2% in the short term. The PCE data will be crucial in determining whether yields can break above 4.5%.

In addition, investors are awaiting President-elect Donald Trump's decision on appointing a new Treasury Secretary. According to information from the Wall Street Journal on November 21, Mr. Kevin Warsh, a former member of the Fed's board of governors, may be appointed and even become Fed chairman.

Elsewhere, the EUR/USD index continued to fall sharply. The euro fell as low as 1.0335 before recovering slightly and closing at 1.0418. If the euro stays above 1.04, it could rebound to 1.0650 in the coming period.

However, the outlook for the euro remains bleak. With the DXY likely to continue rising to 110, the euro’s upside is likely to be limited, with the currency likely to fall sharply to 1.02 or lower in the coming months.

Domestic USD exchange rate today

In the domestic market, at the beginning of the trading session on November 25, the State Bank announced the central exchange rate of the Vietnamese Dong to the USD at 24,295 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 decreased slightly, currently at: 24,168 VND - 26,713 VND.

EUR exchange rates at commercial banks are as follows:

* The Japanese Yen exchange rate at the State Bank's exchange office has increased slightly, currently at: 150 VND - 165 VND.