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The Daily Exchange Rate: is 4,061 KHR to the USD$
GLOBAL EQUITIES FALL DESPITE POSITIVE U.S. ECONOMIC DATA, DOLLAR RISES.
Global equities fell and the U.S. dollar advanced on Wednesday after stronger-than-expected economic data was unable to assuage investor concerns of high inflation and an impending recession driven partly by rising oil prices.
The MSCI world equity index (.MIWD00000PUS), which tracks shares in 50 countries, was down 0.81%. The pan-European STOXX 600 index fell 1.04%.
U.S. Treasury yields rose in choppy trading. Benchmark U.S. 10-year yields hit a two-week high of 2.9149%, while two-year yields also climbed to a two-week peak of 2.6517%.
On Wall Street, all three main indexes ended lower, driven by stocks in the financials, healthcare, technology and consumer discretionary sectors.
The Dow Jones Industrial Average (.DJI) fell 0.54% to 32,813.23, the S&P 500 (.SPX) lost 0.75% to 4,101.23 and the Nasdaq Composite (.IXIC) dropped 0.72% to 11,994.46.
Brent crude was up 0.18% at $115.81 a barrel, while U.S. West Texas Intermediate crude gained 0.04% to $114.72.
The U.S. dollar rose against the euro, helped by upbeat U.S. economic data, and as the common currency remained under pressure following the hottest euro zone inflation on record that raised worries about the region's growth outlook.
The dollar index rose 0.786%, with the euro down 0.79% to $1.0648.
Gold prices inched up from a two-week low, supported by worries over rising inflation, although a stronger dollar and rising U.S. yields kept gains in check.
Spot gold added 0.5% to $1,845.70 an ounce, while U.S. gold futures gained 0.28% to $1,847.90 an ounce.
BITCOIN DROPS 6.9% TO BELOW $30,000
Bitcoin still on a roller coaster ride. Bitcoin, the world's biggest and best-known cryptocurrency, dropped 6.9% to $29,555.35 at 22:03 GMT on Wednesday, losing $2,262.81 from its previous closing price.
It was down 38.9% from the year's high of $48,234 on March 28.
Ether , the coin linked to the ethereum blockchain network, dropped 7.52% to $1,794.68, losing $145.87 from its previous close.
Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover cryptoassets on their books.
Last June the committee proposed that banks set aside enough capital to cover losses on any bitcoin holdings in full.
Certain tokenised traditional assets and stablecoins could, however, come under existing capital rules and be treated like bonds, loans, deposits or commodities.
Earlier this month TerraUSD, a stablecoin tied to the U.S. dollar, collapsed.
Countries which are members of Basel are committed to applying its agreed principles in their own national rules.
The committee has also agreed that the euro zone is one domestic jurisdiction when it comes to calculating an extra capital buffer for large, globally systemic banks which are based there.
Treating their intra-euro zone exposures as domestic, which attracts lower capital charges than non-domestic exposures, should reduce the size of the extra capital buffer requirements for some euro zone lenders.
The European Central Bank, which regulates big euro zone lenders, said it was a step toward a more integrated banking sector in Europe and the creation of a truly domestic market.
