USD exchange rate today October 9, 2024: USD fluctuates in opposite directions

USD exchange rate today in the world

The US Dollar Index (DXY), which measures the value of the US dollar against six other major currencies, edged down 0.06% to 102.47.

The US dollar was near a seven-week high as investors worried about further US interest rate cuts and tensions in the Middle East.

Investors are awaiting information from the minutes of the US Federal Reserve's September meeting, due today, and the September Consumer Price Index (CPI) report, due tomorrow.

Strategist Vassili Serebriakov from UBS New York said that after the market sold off the US dollar, investors will cautiously wait for new CPI data.

The euro fell slightly to $1.0971, near a seven-week low. The pound edged up to $1.3085, after falling to a three-week low earlier this week.

Investors no longer expect the US Federal Reserve (Fed) to loosen monetary policy much this year.

The recent positive jobs report, coupled with comments from Fed Chairman Jerome Powell, suggests the Fed may only cut interest rates slightly by 0.25%.

New York Fed President John Williams also agreed that the September rate cut decision does not apply to future decisions.

The market is predicting an 87% chance the Fed will cut rates by 0.25% in November and possibly a total of 0.50% by year-end.

The USD strengthened against the EUR, GBP and JPY, reflecting expectations of Fed monetary policy and geopolitical situation.

The Japanese yen gained as a safe-haven asset but then fell slightly.

The USD hit a 7-week high against the JPY and its highest since August against the CAD.

The AUD fell against the USD to its lowest level since mid-September.

USD exchange rate in the country today

In the domestic market, at the beginning of the trading session on October 9, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD increased by 15 VND, currently at 24,168 VND.

* The reference exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 23,400 VND - 25,326 VND.

USD exchange rates at commercial banks for buying and selling are as follows:

* The EUR exchange rate at the State Bank's buying and selling exchange center increased slightly, currently at: 25,213 VND - 27,867 VND.

EUR exchange rates at commercial banks for buying and selling are as follows:

* The Japanese Yen buying and selling rates at the State Bank's Exchange increased slightly, currently at: 155 VND - 172 VND.