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The US Federal Reserve raised its benchmark rate by 0.25 points to 5.25%-5.5%, the highest level in 22 years and its 11th consecutive hike. Vietnamese economists said the move would have little effect on the dong, which has stayed stable against the dollar.
A Fed hike supports the dollar, but Vietnam's stable currency and central bank reserves limit the effect on import costs for feed buyers.
en.vietnamplus.vnVietnam+ (VietnamPlusJul 31, 2023After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
