Dollar inches up against dong

An employee counts U.S. banknotes at a bank in Ho Chi Minh City. Photo by VnExpress/Thanh Tung

The U.S. dollar strengthened slightly against the Vietnamese dong Monday morning.

Vietcombank sold the dollar at VND25,471, up 0.04% from the weekend.

The greenback also rose 0.04% to VND25,820 on the black market.

The State Bank of Vietnam (SBV) raised its reference rate by 0.041% to VND24,259.

The dollar has increased against the dong by 4.3% since the beginning of the year.

Globally, the dollar was firm on Monday as the euro hovered near a more than one-month low amid continued concerns about the political outlook in Europe, Reuters reported.

The yuan held close to a multi-month low after China released a slew of economic data that pointed to an uneven recovery in the world's second-largest economy.

The euro was nearly flat at $1.0701, picking up somewhat after falling to its lowest since May 1 at $1.06678 on Friday.

The yen weakened 0.06% versus the greenback at 157.48, after slipping to 158.26 after Friday's decision, its lowest since April 29.

The dollar index, which measures the greenback against a basket of peer currencies, was little changed at 105.52, after touching its highest since May 2 at 105.80 on Friday.

The Fed published updated projections last week that showed the median forecast from all 19 U.S. central bankers was for a single interest rate cut this year.

This week is light on major U.S. economic data to help clarify the Fed's outlook, although U.S. retail sales on Tuesday and flash PMIs on Friday may give hints about consumption and economic strength.