
The Federal Reserve cut its benchmark rate by 25 basis points to 4.00–4.25% on September 17, its first cut of 2025. The State Bank of Vietnam set the central rate at VND25,186 per USD that day, the tenth consecutive session without an uptick.
Economists expect the cut to ease pressure on the dong through year-end.
Lower US rates reduce pressure on emerging-market currencies and can ease the cost of dollar-priced imports for Vietnam. The direct effect on feed commodity prices is limited.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.