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FINANCE Monday 30th May

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INTERNATIONAL:The CSX Index is currently at 508.36 Points down 1.14 Points or 0.22%

The Daily Exchange Rate: is 4,063 KHR to the USD$

DOLLAR SLIDES TOWARD MONTHLY LOSS AS FED BETS EASE.

The dollar was under pressure in Asia on Monday and was headed for its first monthly drop in five months as investors have scaled back bets that rising U.S. rates will spur further gains and as fears of a global recession have receded a little.

In Asia trade the dollar was a fraction weaker on the euro at $1.0746, just above a five-week low, having dropped about 1.5% on the common currency last week.

The dollar index , which hit a two-decade high of 105.010 earlier in May dipped about 0.2% to 101.430 on Monday. Sterling held last week's gains at $1.2649.

ASIA STOCKS SWING TO 3-WEEK HIGH, DOLLAR STRUGGLES.

Asian stocks tracked Wall Street higher on Monday while the dollar was pinned near five-week lows as investors wagered on an eventual slowdown in U.S. monetary tightening, albeit after sharp hikes in June and July.

The Memorial Day holiday in the United States made only a limited impression on month-end demand and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.9% to a three-week high.

Japan's Nikkei (.N225) added 2.2% and South Korea (.KS11) rose 1.2%. Chinese blue chips (.CSI300) firmed 0.7%.

Nasdaq futures added another 1.1%, after gaining 6.8% last week, while S&P 500 futures firmed 0.6%, having rallied 6.6% last week in their best week so far this year.

EUROSTOXX 50 futures gained 0.6% and FTSE futures 0.2%.

The euro was holding firm at $1.0758 on Monday, having risen 1.6% last week to as far as $1.0764. The dollar index stood at 101.50 , after shedding 1.3% last week to hit a five-week low at 101.43.

The dollar was softer on the yen at 126.98 , but still has solid support around 126.37.

The pullback in the dollar helped gold off its recent lows and the metal was trading at $1,862 an ounce .

Oil prices have been supported by expectations for stronger demand as the U.S. driving season gets under way, and as European nations negotiate over whether to impose an outright ban on Russian crude oil.

Brent rose 80 cents to $120.23, while U.S. crude gained $1.07 to $116.14 per barrel.


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