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Reaching a 2-decade peak due to high inflation

Many investors choose USD over other risky products to invest.

On the international market, the USD index reached 104,805, up 0.9% at 6:22 am on May 13, Vietnam time.

The greenback, which is considered a “safe haven”, has received support in the market context stock global slide.

US inflation data just released shows that inflation may have peaked, but it is difficult to “cool down” quickly and “derail” the Fed’s monetary policy plans.

According to the CME FedWatch Tool, the market is anticipating a rate hike of at least 0.5 percentage points by the US Federal Reserve (Fed) at its next two meetings, scheduled for January 15. 6 and 27/7.

The May 2022 CPI data is due to be released five days before the Fed’s policy meeting in June, and Catril thinks a new inflation “shock” could push a rate hike to zero. 75 percentage points.

USD exchange rate today May 13: Reaching a peak of 2 decades due to high inflation - 1

USD continues to gain momentum

On May 12, the State Bank of Vietnam (SBV) announced the central exchange rate at 23,151 VND/USD, an increase of 10 VND compared to the listed level yesterday.

The reference selling rate at the SBV’s Exchange is at 22,550 – 23,250 VND/USD.

The buying price for USD at banks is currently in the range of 22,880 – 22,940 VND/USD, while the selling price is at 23,160 – 23,315 VND/USD.

On the “black market”, the USD is traded at 23,800 – 23,860 VND/USD.

According to Thu Trang (Vietnamese people)

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