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Reuters reports, citing a source, that Vietnam is preparing to loosen its tight control of the dong and may widen its trading band again. The dong is a managed peg to the dollar and has fallen 8% this year amid capital outflows as the Federal Reserve keeps raising rates.
A wider band lets the dong weaken further against the dollar, which raises Vietnam's cost of dollar-priced feed imports and could reduce its buying appetite for corn and soymeal.
reuters.comOct 26, 2022Not enough comparable past events yet for a historical read.
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.
