Abstract：Powered by WikiFX EUR/USD, USD/JPY, GBP/USD AND GOLD
In a bid to contain the rising inflation rate, South African Reserve Bank (SARB) raised its key interest rate by 50 basis points to 8.25% in May 2023 marking its highest level since 2009.
The Euro started a fresh decline from well above 1.0800 against the US Dollar. EUR/USD traded below 1.0800 and 1.0780 to move into a bearish zone.
Asian markets ended mixed, but mostly higher as investors across the region reacted to the news that President Biden and U.S. lawmakers struck a tentative deal to raise the debt ceiling in the U.S. The deal will be voted on later this week and if passed will allow the U.S. government to avoid a potentially catastrophic financial scenario.
South Korean financial market regulators are implementing stringent regulations on contracts for differences (CFDs) trading to enhance transparency, prevent market manipulations, and address recent incidents of losses and volatility in the market, aiming to restore trust and protect investors.