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MARKET WRAP: JSE joins global jitters over US debt vote

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Rand remains under huge pressure as US House of Representatives prepares to vote on the deal to increase the government’s spending cap

The JSE tracked weaker global markets on Wednesday as investors awaited the outcome of a vote on the US debt limit deal days before a potentially catastrophic default.

The deal, reached at the weekend by President Joe Biden and House Speaker Kevin McCarthy, cleared an important hurdle on Tuesday, Bloomberg reported. Legislation to suspend the borrowing ceiling for a period and cap federal spending was advanced by the House Rules committee on a 7-6 margin, sending it to a vote on final passage by the full House of Representatives...

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