VCSC Daily - Cautious trading - SBV cuts USD deposit rates - VSH - KDH
Cautious trading. The market woke up to surprising news from the SBV. The central bank announced to cut rates on USD deposits in a bid to thwart USD hoarding and more importantly, to steady the currency market (see below for details). Retail investors remain cautious amid the move. Low volume range trading dominated for most of today’s trading session. Liquidity fell 18% vs. Friday’s session.