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The Daily Exchange Rate: is 4,063 KHR to the USD$
Now a look what else is happing in finance around the world.
WORLD SHARES CLIMB, DOLLAR FALLS ON RELIEF OVER FED'S FLEXIBLE STANCE.
World shares rose on Thursday and the U.S. dollar edged lower, a day after minutes from the U.S. Federal Reserve's May meeting indicated the central bank would remain flexible and might pause rate hikes later in the year.
Wall Street closed higher with the three main U.S. indices positioned for their biggest weekly gains since mid-March.
The MSCI's benchmark for global stocks (.MIWD00000PUS) was up 1.54% at 4:25 p.m. EDT (2025 GMT). Europe's pan-regional STOXX 600 (.STOXX) equity benchmark index rose 0.78%, while the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.02%.
The Dow Jones Industrial Average .DJI rose 516.91 points, or 1.61%, to 32,637.19; the S&P 500 .SPX gained 79.11 points, or 1.99%, to 4,057.84; and the Nasdaq Composite .IXIC added 305.91 points, or 2.68%, to 11,740.65.
The three indexes were on track to snap their longest streak in decades of weekly declines.
The U.S. dollar fell 0.284% against a basket of global currencies. If the Fed gets less aggressive on tightening, that would weaken the greenback's safe-haven appeal.
The euro was up 0.44% to $1.0727.
In commodities, Brent futures rose $3.37, or 3.0%, to settle at $117.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.76, or 3.4%, to settle at $114.09.
U.S. gold futures were last up 0.17% to $1,849.50.
BITCOINS ROLLER COASTER RIDE
Bitcoin's limited history isn't much of a guide on crypto winters, which we're defining as prolonged bearishness for a month or more.
There have been five since 2017 and three since 2021. Last year's two crashes lasted 14 and 10 weeks and caused bitcoin to lose 45% to 47%. If they were typical, bitcoin's latest drop - 36% shed in eight weeks - has road left to run.
Bitcoin dominance, a measure of the ratio between its market cap to the rest of cryptocurrency markets, has jumped to a seven-month high of over 44% even as its price has decreased.
Bitcoin has lost half its value since a Nov. 10 peak of $69,000. This week, it is flirting with $30,000, after touching a 17-month low of $25,401 on May 12. It remains the largest digital asset by market cap, but the market value of all cryptocurrencies now stands at $1.3 trillion, less than half the $3 trillion peak in November.
Total spot market volume for all cryptocurrencies at major exchanges had fallen to $18.4 billion as of Monday - less than half of the $48.2 billion seen on May 14, which was the highest volume for 2022, according to news and research site The Block.
Blockchain analytics firm Glassnode said on May 9 that bitcoin at $33,600 puts 40% of investors underwater on their holdings.
According to Currency.com, bitcoin (BTC), the largest cryptocurrency by market capitalisation, ended yesterday at $29,508, down 0.41%. As of this afternoon in London, it was trading at $28,350.
BTC was down 4.2% over the past 24 hours, and 4.3% lower over the past seven days, according to CoinMarketCap. Bitcoin’s market cap was $539.5bn – representing around 45.4% of the crypto market capitalisation – while the lead crypto’s trading volume was around 13.6% higher at $34.5bn in the past 24 hours.
"Many folks are left wondering what they should do with their coins – keep holding on for dear life or book losses and move on?" said Lindsey Bell, chief markets and money strategist at Ally Invest.
"It's a good reminder that crypto probably shouldn't be more than, say, 1-2% of your portfolio."
