SBV moderately withdraws liquidity while USDVND pressure extends

This week, the SBV continued to withdraw liquidity, albeit at a moderate level, while USDVND maintained its rally. The interbank yield curve shifted upward, with shorter tenors experiencing sharper increases. On the global front, the greenback strengthened after a better-than-expected inflation figure was announced, with the heated dispute between Donald Trump and Volodymyr Zelenskyy further fueling its momentum, driving the DXY back to the 107 mark. On the domestic front, USDVND continued to surge, primarily driven by tariff concerns and USD purchases by the VST.