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 is near a seven-week high, as investors worry 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.

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

The euro edged down 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 by a modest 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 pricing in an 87% chance that the Fed will cut rates by 0.25% in November and could cut them by a total of 0.50% by the end of the year.

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

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

The USD hit a seven-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 today in the country

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 transaction office increased slightly, currently at: 23,400 VND - 25,326 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: 25,213 VND - 27,867 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: 155 VND - 172 VND.