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The Vietnamese dong hit a historic low against the dollar as the State Bank raised its reference rate to 24,288, the weakest since the rate debuted in 2016. Commercial banks quoted the greenback at the upper limit of the trading band, and the DXY rose to its highest since late May after Trump's election win.
A weaker dong raises Vietnam's import costs for feed ingredients and can dampen local demand for imported meal, while a firmer dollar pressures dollar-priced commodities.
theinvestor.vnAnh MinhNov 13, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
