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The US dollar continued to rise against the Vietnamese dong on October 23, with the central bank lifting its reference rate for an eighth straight day to VND24,250. The DXY traded near 104.30, its highest since late July, as markets expected the Fed to slow its rate cuts.
Rising dollar costs increase Vietnamese importers' expense for feed grains and meal, while a strong DXY tends to pressure dollar-priced commodities. The move is mainly a currency story with limited direct grain price impact.
theinvestor.vnQuang MinhOct 23, 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.
