Foreign exchange prices on July 8, 2025: USD bounces back

Exchange rate on the world market

Illustration photo. (Photo source: Internet)

The Dollar Index (DXY), which measures the USD against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 97.32 - up 0.33 points compared to July 7, 2025.

The dollar rose against other major currencies after statements from US officials provided little clarity on tariff policy, just days before a key deadline. Most of America’s trading partners now face the risk of higher tariffs when a 90-day “Liberation Day” tariff reprieve proposed by President Donald Trump expires on Wednesday.

Mr. Trump confirmed on Sunday that the new tariffs would officially take effect on August 1. He also said he would announce a list of about 12 countries that would receive notice of the new tariffs on Monday, while threatening to impose an additional 10% tariff on countries that tend to support the “anti-American” policies of the BRICS group (Brazil, Russia, India, China and South Africa).

“The current administration seems to be trying to avoid getting into a full-blown tariff war. We hear a lot of talk, but talking and doing are two different things,” said Chris Beauchamp, chief market analyst at IG. “The U.S. saw some pretty dramatic swings in April, and I don’t think they want that to happen again.”

Options market data reflects that currency investors are anticipating a slight increase in volatility ahead of the tariff deadline, but also expect a possible extension from the US.

The dollar index, which measures the greenback against six major currencies, rose 0.34% to 97.294 and briefly hit a one-week high. The index continued its gains from last week as data showed the U.S. labor market remained strong, delaying expectations of an early easing of monetary policy by the Federal Reserve.

Still, the index is near a three-and-a-half-year low and has fallen 10 percent this year as investors question the dollar's safe-haven status and reassess hopes that the United States can escape the impact of the global economic downturn.

The dollar edged up 0.25 percent to $0.797 against the Swiss franc, near a low last seen in January 2015. The euro fell 0.41 percent to $1.1738, having gained more than 13 percent this year. Meanwhile, the dollar reversed an early decline and rose 0.78 percent to 145.725 yen, hitting a one-week high.

Investors are concerned that Japan and the European Union (EU) may not reach an agreement with the US before the deadline, as the negotiation progress remains slow despite the two sides having gone through many rounds of negotiations.

The pound edged down 0.08% to $1.364, but remained around its highest level since October 2021.

Riskier currencies like the Australian and New Zealand dollars lost 0.61% and 0.63% respectively ahead of their central banks’ policy decisions in the next two days. The Reserve Bank of Australia is expected to cut interest rates by another 0.25 percentage points on Tuesday, while the Reserve Bank of New Zealand is expected to keep rates unchanged on Wednesday.

Paul Mackel, global head of foreign exchange research at HSBC, commented: "The uncertainty in US policy, although not as strong as in early April, still has a significant impact on the USD."

Domestic USD exchange rate

In the domestic market, at the beginning of the trading session on July 8, the State Bank announced the central exchange rate of the Vietnamese Dong against the USD at 25,113 VND.

The reference USD exchange rate at the State Bank's buying and selling exchange center decreased slightly, currently at: 23,908 VND - 26,318 VND.

Specifically, at Vietcombank , the USD exchange rate is 25,940 - 26,330 VND/USD, down 20 VND in both directions, compared to yesterday's trading session.

NCB Bank is buying USD cash at the lowest price: 1 USD = 25,805 VND

VietinBank is buying USD transfers at the lowest price: 1 USD = 25,785 VND

HSBC Bank is buying USD cash at the highest price: 1 USD = 26,061 VND

HSBC Bank is buying USD transfers at the highest price: 1 USD = 26,061 VND

OCB Bank is selling USD cash at the lowest price: 1 USD = 26,290 VND

HSBC Bank is selling USD transfers at the lowest price: 1 USD = 26,297 VND

Eximbank, Saigonbank, UOB, VietABank are selling USD cash at the highest price: 1 USD = 26,368 VND

SCB Bank is selling USD transfers at the highest price: 1 USD = 26,360 VND

The EUR exchange rate at the State Bank's buying and selling exchange increased, currently at: 28,104 VND - 31,062 VND.

The current buying and selling rate of Japanese Yen at the State Bank of Vietnam is: 165 VND - 183 VND.

Source: https://doanhnghiepvn.vn/kinh-te/gia-ngoai-te-ngay-8-7-2025-usd-bat-tang-tro-lai/20250708083237389