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Thursday, May 14, 2020 06:38 a.m. (GMT + 7)
The dollar strengthened again when the FED president made a new statement on television.
This morning, 14/5 Vietnam time, the USD exchange rate on the world market recovered. The USD index, a measure of the strength of the dollar, compared to other major currencies, was trading at 100,260 points, an increase of 0.304 points compared to yesterday.
Last week, the number of applications for unemployment benefits in the US USA It increased by 3 million, bringing the total number of employees claiming unemployment benefits since the Covid-19 pandemic to over 33 million, equivalent to the level of the Great Depression. Consumer prices also fell 0.8% in April, increasing the likelihood of deflation when the US economy was in recession.
Therefore, the entire debate centers on whether the Fed will cut interest rates to negative or not.
Last night in the Vietnam era, FED President Jerome Powell was invited to a broadcast event organized by the Pereterson Institute for International Economics. The event came just after President Donald Trump urged the Fed to cut interest rates to negative levels. Speaking on the show, Mr. Jerome Powell said that he did not consider using a negative interest rate tool.
However, experts said the market could lower the real interest rate to negative even if the Fed does not set this target. Last week, the yield on two-year US Treasuries was just 0.09%.
The index measures the strength of the dollar
On the Vietnamese market, on May 13, the State Bank announced the central rate at 23,244 VND / USD, down 1 VND compared to yesterday. The benchmark rate at the State Bank of Vietnam remained at 23,175 – 23,650 VND / USD.
Currently, the purchase price in USD in banks ranges from 23,230 – 23,270 VND / USD, while it sells from 23,435 – 23,475 VND / USD.
In the “black market” market, the USD was trading at 23,340 – 23,380 VND / USD, the buying direction increased slightly by 10 dong.
Source: http: //danviet.vn/ty-gia-usd-hom-nay-14-5-tang-manh-truoc-phat-bieu-cua-chu-tich-fed-50202014563 …
The dollar depreciated unexpectedly amid pressure from the US. USA, since Covid-19 continued furious.
