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The U.S. Treasury and the State Bank of Vietnam issued a joint statement after a virtual meeting between Secretary Yellen and Governor Hong. Vietnam committed to avoid competitive devaluation of the dong and to make its monetary and exchange rate framework more transparent, resolving Treasury's currency concerns.
A commitment against dong devaluation reduces the risk of a weaker dong making Vietnamese exports cheaper, which supports stability in Vietnam's feed-related import and export costs. The effect on grain and feed prices is minor.
home.treasury.govJul 19, 2021Not 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.
