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MARKET WRAP: JSE pares gains as Powell sounds hawkish tone at ECB forum

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Federal Reserve chair reiterates that more rate hikes are likely even though the latest US data points to resilience

The JSE pared earlier gains on Wednesday as investors mulled over the latest commentary on monetary policy from Federal Reserve Chair Jerome Powell.

Speaking on a panel at the European Central Bank forum in Sintra, Portugal, Powell said more restriction lay ahead, including the likelihood of more interest hikes...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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