The USD needs more "catalysts for the Japanese Yen to fall."

The reference USD exchange rate listed at the State Bank of Vietnam's Exchange Department is: 23,400 VND - 25,450 VND.

The USD exchange rates at commercial banks for buying and selling are as follows:

Vietcombank: 24,900 VND - 25,270 VND.

Vietinbank : 24,820 VND - 25,285 VND.

Foreign exchange rates, USD/VND exchange rate today, August 12: USD needs more 'catalysts'. (Source: Reuters)

Exchange rate movements in the global market.

The Dollar Index (DXY), which measures the USD against six major currencies (Euro, JPY, GBP, CAD, SEK, CHF), closed at 103.15.

After a strong rally for four consecutive weeks, the Japanese yen fell against the US dollar last week. The yen surged to a high of 141.70 against the greenback last week before reversing course and falling again, closing the week at 146.60 against the greenback.

That helped stabilize the DXY index at the end of last week. The DXY index had fallen to a low of 102.16 and then rebounded, closing the week at 103.13.

The US Consumer Price Index (CPI) inflation data released this week will be a key event for investors. A low inflation figure would strengthen the argument for an interest rate cut in September. And that could push the DXY index even lower this week.

The US Federal Reserve also hinted at a September interest rate cut in its July meeting.

It may take some strong "catalysts" to propel the US dollar higher. Without any such triggers, the Yen could rebound from the 149-150 support zone. This could push the currency back to 144-143 again in the short term.

However, it is also likely to trade sideways in the 144-150 range for a while before the Yen strengthens again.

The USD index is unlikely to rise in the current environment. The area around 104 will be a strong resistance level in the near future. A reversal from there could push the DXY index down to 103-102 again. Overall, the index is likely to fluctuate within the 102-104 range for some time.

Except for a drop to 1.0881 in the middle of the week, the EUR generally remained stable above 1.09 throughout the week.

Strong resistance is around 1.0950. Failure to break through this level could leave the currency vulnerable to a drop to the 1.0880-1.0850 range in the coming days.

The EUR needs to maintain its upward momentum above 1.0950 to rise to the 1.10-1.11 region.

The yield on 10-year US Treasury bonds has rebounded sharply from last week's low of 3.66%. Key resistance is at 4.03% and in the 4.08-4.10% range. The likelihood of a rise above 4.1% is lower.